Fiduciary education specialist fi360 this autumn bought independent consulting and research firm Ann Schleck & Co., marking the Bridgeville, Pa.-based company’s second acquisition this year as it broadens its reach within the financial services industry.
Fi360, known for promoting fiduciary principles and best practices among financial advisors and other financial professionals, earlier this year bought Financial Service Standards LLC and its educational and service programs focused on the 401(k) market.
What Ann Schleck & Co. brings to fi360 is industry-related research data and practice management consulting experience aimed at retirement providers, fund companies, financial advisors and consultants. “They have a wealth of information about how advisors operate and can provide that information in a tailored way to the advisor community and those who support them,” says fi360 CEO Blaine Aikin.
The terms of the deal weren’t announced. Ann Schleck & Co. will operate as a wholly owned independent subsidiary of fi360 and remain at its current headquarters in St. Paul, Minn. Principals Ann Schleck and Sue Kelley will retain their current positions within the company.
Fi360 wanted to bolster the practice management side of its business, Aikin says, and over time he realized that Ann Schleck’s company could be a viable partner in building out fi360’s platform. He notes that he and Ann Schleck have spoken at common venues over the years, and he was impressed by the message of her presentations. “Every time I saw one of her presentations, it became ever more clear to me this would be a good match,” Aikin says.