ST. LOUIS (AP) -- Stifel Financial is buying money management firm Ziegler Lotsoff Capital Management LLC to expand its portfolio and add more customers
Financial terms of the deal announced Wednesday weren't disclosed.
Ziegler Lotsoff primarily manages investment portfolios for nonprofit foundations, endowments, senior living and health care communities. The Chicago firm had $4.2 billion under its management through September.
"We think Stifel represents a perfect fit for our team and our clients," Ziegler Lotsoff President Scott Roberts said.
Stifel Financial Corp., which is based in St. Louis, already owns several other money management firms. They include: EquityCompass Strategies, Missouri Valley Partners, Thomas Weisel Global Growth Partners, Timberline Asset Management LLC and Washington Crossing Advisors.
The acquisition of Ziegler Lotsoff is expected to be completed before the end of the year.