Adviser Investments Buys $350M Michigan RIA
Adviser Investments, an independent wealth advisor, has acquired $350 million Michigan-based LeJeune Puetz Investment Counsel.
The terms of the transaction were not disclosed.
The combined entity adds financial, tax and estate planning and settlement to LeJeune Puetz’s services. Meanwhile, Adviser is able to expand its presence into Northern Michigan.
LeJeune Puetz was founded in 1988 by Dennis LeJeune, formerly an EVP for the Harris Bank in Chicago. John Puetz joined the firm in 1996, and LeJeune Puetz Investment Counsel was formed in 1997. Puetz joins Adviser as partner and wealth advisor.
“John’s service-centric approach and focus on high-net-worth clients are part of what makes this such an exciting transaction,” Adviser CEO Mario Ramos said. “We are extremely glad to partner with a firm so complementary in values and growth goals.”
Headquartered in Newton, MA, Adviser Investments was established in 1994 by Dan Wiener and today oversees more than $8.3 billion in client assets. The firm is backed by Summit Partners, which took a majority stake in 2020.
Last month, Adviser acquired Boston-based Ropes Wealth Advisors, a $6.5 billion advisory firm. In April 2022, the firm bought Polaris Wealth Advisory Group, a $1.5 billion RIA based in San Rafael, CA.
