DETROIT--(BUSINESS WIRE)--Telemus Financial Life Management has announced its immediate acquisition of Barrington Strategic Wealth Group (BSWG). With the move, Metro Detroit-based Telemus continues to expand its presence in the Midwest. BSWG, headquartered in downtown Chicago, will increase the ability of Telemus to service a broad audience throughout the region.
“Barrington Strategic Wealth Group’s separately managed account strategies will be just one of the many benefits we will be able to offer to Telemus clients from the acquisition,” says Gary Ran, Chairman/CEO of Telemus.
BSWG boasts a large client base with $350 million in assets. The firm specializes in addressing the needs of high net worth clients who focus on conserving money. At the helm, since its inception in 2009, sits Diana Joseph who joins Telemus as a partner and Co-Chief Investment Officer.
“This transaction allows us to leverage the substantial operational capabilities of Telemus and Focus, provide robust manager due-diligence and research, add diverse separate account strategies to Telemus and sophisticated planning capabilities to Chicago,” said Joseph. “It is a win for everyone.”
The acquisition is the latest strategic move for Telemus which began working under the nationally known Focus Financial Partners in 2013. Under the Focus umbrella, Telemus is part of a network of independent firms that benefit from organizational and transitional support, helping groups like Telemus stay focused on client needs.
“Barrington Strategic Wealth Group marks the first significant transaction we’ve entered into since our partnership with Focus Financial,” says Ran.
With the acquisition, Telemus will now offer fully staffed locations in Southfield and Ann Arbor, Michigan, and Chicago, Illinois as well as an office in Los Angeles, California. For information on investing, contact a wealth management professional at 855-TELEMUS or online at www.telemus.com.