MINNEAPOLIS — Dain Rauscher Corp. acquired Voyageur Asset Management from Dougherty Financial Group.

The price was not disclosed. The deal closed Friday.

Dain Rauscher plans to merge $6 billion-asset Voyageur with Insight Investment Management Inc., Dain’s $7 billion-asset investment advisory unit. The combined units, which will use the Voyageur name and operate as a division of Dain, will be the industry’s 125th-largest measured by assets under management.

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