Michael Cleary, President, Cleary Gull Advisors
Milwaukee‐based investment advisory firm Alberts Investment Management has been acquired by Johnson Financial Group subsidary Cleary Gull Advisors.
Cleary Gull said Thursday it has bought Alberts Investment Management, owned by Ronald Alberts, for an undisclosed price. Alberts Investments, which specializes in management of individual and government, balanced and fixed‐income accounts, has more than $300 million in assets under management.
The transaction pushes Johnson Financial Group across the $10 billion threshold in assets under administration, according to a news release.
“This new partnership allows us to provide even greater value to our combined clients,” said Cleary Gull president Michael Cleary.
Alberts will stay on as senior vice president‐wealth adviser. He'll work closely with Johnson Financial Group's chief investment officer Brian Andrew as the two firms merge operations.
“We wanted to join a company that shares our same vision and beliefs – a family that believes in reinvesting in the communities where they do business,” Alberts said in a news release. “Plus, our clients receive a continuation of great service along with access to the full breadth of financial services offered by Johnson Financial Group, including banking and insurance.”
Johnson Financial Group purchased the investment advisory business Cleary Gull Advisors Inc. in 2016. It's not affiliated with the Cleary Gull Inc., a separate company.
Johnson Financial Group is owned by members of the same family that owns S.C. Johnson & Son in Racine. Johnson Financial is the parent company of Johnson Bank and Johnson Insurance.