Wunderlich, which is based in Memphis, will take on new branches in Tulsa, Oklahoma and New York and will add to the private client group at its existing Houston office.
As a result of the deal, 35 employees will join Wunderlich, including 27 financial advisors with more than US$800 million in assets under administration, Wunderlich said.
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Commenting on acquisition, Gary Wunderlich, CEO of Wunderlich Securities, said: "SMH is a well-known regional firm and we are thrilled to have these experienced advisors and their clients join our firm. They fit very well into our geographic footprint and fit even better into our culture."
The deal is expected to close 14 December 2012. At that time, Wunderlich will have 25 offices in 15 US states.
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