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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Thurston Springer Financial has acquired Jupiter, Florida-based Peak Reps LLC and its subsidiaries in a deal that closed Jan. 31.
Financial terms were not disclosed.
Thurston Springer offers wealth management, investment advisory, business consulting and tax services. The company has about 108 registered brokers, a support staff of about 25 and $10 billion in assets under management.
Peak has 120 registered brokers, $1.2 billion in assets under management and a support staff of 15 people who are based in either Florida or Houston.
All 15 of those employees retained their jobs and will continue to work from their respective locations, said Thurston Springer President Matthew Reynolds: “Everyone was offered a position and took it.”
The acquisition also included Peak’s three subsidiaries: Peak Brokerage Services, an independent broker-dealer; Blackridge Asset Management, a registered investment adviser; and Top Advisors Group, an insurance support organization.
Peak, now a subsidiary of Thurston Springer, will continue to do business under the Peak name, Reynolds said.
The two firms were no strangers to each other pre-acquisition.
Thurston Springer’s consulting and tax business, Bristal Lane Group, serves broker-dealers and registered investment advisers around the U.S. Peak was Bristal Lane’s largest client, Reynolds said.
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