Long-time Indy investment advisor acquired by Ohio firm
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Cincinnati-based Total Wealth Planning has acquired Charles A. Liles & Associates Inc. in Indianapolis. Financial terms of the deal are not being disclosed.
Total Wealth Planning is an independent Fee-Only registered investment adviser and manages $986 million in assets under management (AUM) and an additional $20 million of unmanaged assets.
Liles & Associates, which has $41 million in AUM, will be absorbed into the Ohio company as a result of Liles’ retirement. While Total Wealth Planning expands in Indiana, Liles will assist as a consultant for a year to oversee the transition.
“It feels good to share our know-how, systems, and processes with clients of such an outstanding advisor. Charles has held a distinguished 30-year career in financial services and a strong sense of community volunteerism,” said Rob Siegmann, principal and chief operating officer at Total Wealth Planning, said in a news release. “It is an honor to provide him with a succession plan. We look forward to continuing to elevate the advisory experience and Fiduciary duty for his clients.”
No jobs were lost in the acquisition, and Total Wealth Planning’s headcount is now 17 with Liles as a consultant.
“We share the same purpose as Fee-Only fiduciaries along with a common mission to deliver exceptional investment management and life planning experiences for clients,” Liles said in a release. “They are not only bringing significant resources to my clients, but their 30 plus years of expertise as a firm will serve my clients and their families well into the future.”