Deerfield Financial Advisors, an Indianapolis-based wealth management firm, has acquired Bowyer, Weydert Wealth Planning Partners in Park Ridge, Ill.

Deerfield is a fee-only financial services firm assisting individuals and families with investable assets of more than $1 million and provides advice on comprehensive planning topics, including financial independence, income tax, insurance, education and estate planning.

The acquisition of Bowyer, Weydert Wealth Planning Partners will increase Deerfield's firm assets to more than $460 million. Deerfield already works with clients in two countries and 19 states, but has always viewed the Chicago market as a logical next step in business expansion, the firm said in a press release. According to Deerfield's ADV statement filed in May, the firm had nearly $350 million in discretionary and nondiscretionary assets.

Deerfield's CEO is CEO Dick Bellmer. As part of the agreement, Gary N. Bowyer, CFP, founder of Bowyer, Weydert Wealth Planning Partners, will become executive vice president of Deerfield's new Illinois office.