The investment advisory 1919 Investment Council, a subsidiary of St. Louis-based Stifel Financial, has acquired advisory firm Rand & Associates in a move that gives 1919 a physical presence on the West Coast and adds about $1.3 billion in assets under management.
Terms of the deal, which Stifel announced Tuesday, were not disclosed.
Both 1919 and San Francisco-based Rand provide comprehensive wealth management services. Together, they have more than $12 billion in assets under management, according to a press release.
Stifel’s asset management business now has more than $30 billion in assets under management, according to the release.