Vestor Capital to acquire local RIA managing $209 million

Vestor Capital, a Chicago-based registered investment advisory firm managing $945 million, has agreed to acquire Oak Asset Management, an RIA managing $209 million in Oak Brook, Illinois. The transaction, the terms of which were not disclosed, is expected to close in the fourth quarter.

Scott Stuth, who co-founded Oak in 2006, will join Vestor. The firms two other co-founders will remain with a local accounting firm in which they are partners.

Vestor is a partner firm of Focus Financial Partners, which arranged the transactions.

[More: Focus Financial takes stake in $1.6 billion RIA]

The post Vestor Capital to acquire local RIA managing $209 million appeared first on InvestmentNews.