Johnson Financial Group, a financial company based in Racine, Wis., will acquire the Appleton Group, expanding the firm’s presence in Northeast Wisconsin, the firm announced yesterday.
The Appleton Group is a registered investment advisor with $210 million in assets under management based in Appleton, Wis.
“This [move] reflects our commitment to building and expanding our banking and wealth business in Wisconsin by investing in our people, our footprint, our technology and our communities,” said Jim Popp, CEO of the Johnson Financial Group, in a statement.
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. The acquisition builds on the Johnson Financial Group’s efforts to build upon its presence in Milwaukee, Madison and Appleton, according to Brian Andrew, chief investment officer and president of Johnson Wealth, one of the companies included in the holding company.
Scheffler, who conducts a podcast called “Three Minute Trend Talk,” will continue to serve clients and be a leader within the Johnson Financial Group’s Appleton office. Johnson Wealth has $9.5 billion in assets under management and is ranked 58th among RIAs by assets under management, according to Financial Advisor magazine’s 2023 RIA survey.