RMB Capital, an independent financial services firm in based in Chicago, on Wednesday announced it acquired VennWell LLC, a financial planning and investment management firm in Lake Forest, Ill.
VennWell brings roughly $250 million in assets under management to RMB, which has more than $6.7 billion in assets under management. Terms of the deal weren’t disclosed.
VennWell founder and managing director Colleen Chandler joins RMB as a managing director and senior wealth advisor. The rest of the staff will join RMB, and the VennWell office will become a new RMB location.
Founded in 2002, VennWell focuses on financial planning, investment management and consulting, and advisory oversight for 401(k) and 529 college-savings plans.
In addition to RMB’s Chicago headquarters and its new location in Lake Forest, the company has offices in Denver, Jackson Hole, Wyo., Washington, D.C., and New York City.