Sterne Agee Financial Services said late Thursday that it will buy WRP Investments, which has some 350 independent advisors.
“We quickly recognized the unique culture of WRP and the mutual benefits a partnership could create for both firms,” said Jay Carter, CEO of Sterne Agee Financial Services of Birmingham, Ala., in a press release.
Youngstown, Ohio-based Sterne Agee “has maintained a tradition and culture of excellence for over 100 years, and it was exciting to find another firm that shares our values,” Carter added. “This was one of those special opportunities where all parties are better served and better positioned for the future.”
Sterne Agee, founded in 1901, employees over 1,600 financial professionals in 20 states and has about $23 billion in client assets under management.