Michigan-based Telemus Financial Life Management has acquired Barrington Strategic Wealth Group (BSWG), an investment management firm based in Illinois, for an undisclosed sum.

Founded in 2009 by Diana Joseph, BSWG caters to high net worth clients and manages around $350m in assets. Joseph now joins Telemus as a partner and co-CIO.

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“This transaction allows us to leverage the substantial operational capabilities of Telemus and Focus, provide robust manager due-diligence and research, add diverse separate account strategies to Telemus and sophisticated planning capabilities to Chicago,” Joseph noted.

Since 2013, Telemus is operating under Focus Financial Partners as part of a network of independent firms. With the latest takeover, Telemus has fully staffed presence in Southfield and Ann Arbor in Michigan, Chicago in Illinois along with an office in Los Angeles, California.

Telemus chairman/CEO Gary Ran said: “Barrington Strategic Wealth Group marks the first significant transaction we’ve entered into since our partnership with Focus Financial. Barrington Strategic Wealth Group’s separately managed account strategies will be just one of the many benefits we will be able to offer to Telemus clients from the acquisition.”