Chicago-based RMB Capital has announced the purchase of Greenwood Investment Management, an advisory practice in Centennial, Colo.

The transaction adds Ken James, Greenwood’s founder and sole proprietor, as a consultant to RMB Capital. He brings more than $60 million in assets to the firm.

James cited succession planning and improving the overall client experience as reasons for selling his practice.

“With a one-person firm, finding the right partner to solve the succession issue is critical,” James said in a released statement. “Joining forces with RMB gives my clients access to comprehensive financial planning services, a broader advisory and support team and more investment solutions.”

RMB now has more than $5.2 billion in AUM.