The branches to be acquired include Plymouth, Flint, East Lansing and Brighton in Michigan and Beachwood in Ohio.
The acquisition agreement also adds 32 new employees to Wunderlich Securities. Included in the group are 21 Financial Advisors adding $8m in gross production and $700m in client assets under administration.
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Clearing for the new branches will be provided through a new relationship with RBC Correspondent Services.
Wunderlich Securities CEO Gary Wunderlich said that this transaction is part of the company’s efforts to meet the commitment to building the highest quality regional firm dedicated to the needs of individual, corporate and institutional clients.
Wunderlich Securities president Philip Zanone said that the individuals in these branches represent a unique fit within a regional firm and welcome them to Wunderlich Securities.
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