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., Dains $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 industrys 125th-largest measured by assets under management.