The U.S. arm of Dutch bank ING Group announced plans Wednesday to buy Investors Financial Group, a broker-dealer in Atlanta.
Terms were not disclosed. The deal is expected to close in the fourth quarter, according to ING North America's U.S. retail financial services division.
Investors Financial caters to independent financial advisers and has dealings with a number of banks and credit unions, ING said. It offers a variety of investment products, including mutual funds, stocks, bonds, variable annuities, and variable life insurance.
The firm's network of 600 professionals in 50 states would increase ING's own U.S. network to 3,200 brokers.
ING Group, a $455.3 billion-asset banking company, is based in Amsterdam.
- Niamh Ring