Johnson Financial Group announced it has signed an agreement to acquire The Appleton Group, a registered investment advisor with $210 million in assets under management based in Appleton at the end of September.
Terms of the acquisition were not disclosed.
“We’re excited to welcome The Appleton Group clients and employees to our firm,” said Jim Popp, CEO of Johnson Financial Group. “This reflects our commitment to building and expanding our banking and wealth business in Wisconsin by investing in our people, our footprint, our technology and our communities.”
Founded in 2002 by Mark Scheffler, the Appleton Group is a fee-only, independent financial advisor serving private clients, employer-sponsored retirement plans, non-profit endowments and financial institutions.
“Mark Scheffler and the six employees of the Appleton Group share our values and our culture of serving our clients, our employees and our communities,” said Brian Andrew, chief investment officer and president of Johnson Wealth. “This acquisition will expand our footprint in the Northeast and complement other recent efforts to build our presence in Milwaukee, Madison and Appleton. We’re looking forward to having this highly engaged and talented team join JFG.”
Scheffler said, “We’re proud to become part of the largest independent RIA in the state. Johnson Financial Group offers the investment products, technology and service our clients expect. In fact, our clients will experience a seamless transition as our planning and investment cultures greatly align.”
Scheffler, who is deeply involved in the Appleton community and has built a following for his “Three Minute Trend Talk” podcast, will continue to serve clients and be a leader within JFG’s Appleton office. JFG’s registered investment advisor, Johnson Wealth, has $9.5 billion in assets under management and is ranked 58th in the country according to Financial Advisor magazine’s 2023 report.
The firm completed several acquisitions and remains active in looking for additional opportunities. DeVoe & Company supported Johnson Financial Group in the transaction.
