Stifel Financial announced last week that they will be acquiring wealth management firm BC Ziegler & Co., which will give Stifel a huge bump in its Midwestern presence. Stifel will also be gaining 57 Ziegler advisers in 12 branches across five states. If all goes according to plan, the deal will close in the first quarter of 2018.

Stifel, whose leadership includes co-chairs Thom Weisel and Ronald Kruszewski, is well-known for its strategic acquisitions and expertise in services holding via banking, securities, and financial services business. Zeigler, led by CEO Tom Paprocki, has provided capital raising, strategic advisory services, equity and fixed income sales and trading, and research since 1902.

Ziegler currently oversees about $4.8 billion in client assets—a nice little sum for Stifel to add to its own management.

“The addition of the Ziegler business is another step in the growth strategy for Stifel,” said Kruszewski in a press release. “We have worked with the management team at Ziegler in the past, and we are excited to add not only a growing and profitable business to our platform, but one whose culture of integrity and putting the client first is very similar to our own.”

Paprocki was equally pleased: “The sale of our wealth management division to Stifel makes strategic sense,” he said, “as it allows our colleagues to grow with a company that has an equally impressive 128-year history of helping clients achieve their financial goals.” It will also allow the rest of Ziegler to focus on other offerings, including investment banking, capital markets, and fund management for clients in the healthcare, senior living, and education sectors.

Stifel will acquire Ziegler offices in Wisconsin, including Mequon, Waukesha, West Bend, Madison, Sheboygan, Wausau, and Appleton; in Illinois, including Chicago and Rockford; and in Orlando, Florida; Richmond, Virginia; and Scottsdale, Arizona. These offices will become Stifel Nicolaus branches.