JFG to Expand Wisconsin Footprint with $210M RIA Acquisition

Johnson Financial Group, a private bank and wealth management firm, plans to expand its northeastern Wisconsin presence with the acquisition of The Appleton Group, a registered investment advisor with $210 million in assets under management.

Financial terms of the deal, which is scheduled to be completed by the end of the month, were not disclosed.

The Appleton Group, located in Appleton, WI, will join Johnson Wealth, JFG’s registered investment subsidiary. The unit manages assets worth $9.5 billion.

Founded in 2002 by Mark Scheffler, The Appleton Group is a fee-only, independent financial advisor serving private clients, employer-sponsored retirement plans, non-profit endowments and financial institutions.

“This acquisition will expand our footprint in the Northeast and complement other recent efforts to build our presence in Milwaukee, Madison and Appleton,” said Brian Andrew, CIO, president of Johnson Wealth.

JFG may become a more regular acquirer of local RIAs in the aftermath of The Appleton Group purchase, stating that it is actively seeking further M&A opportunities.

According to the firm’s website, JFG was created in 1970 by Samuel C. Johnson, Jr., the fourth-generation CEO of manufacturing and consumer chemicals company S.C. Johnson. Helen Johnson-Leipold, his daughter, is the current chair of JFG.

DeVoe & Company represented JFG in the transaction.