Stifel Financial (SF) has agreed to buy a Legg Mason wealth management unit, the two companies announced Wednesday.

Legg Mason Investment Counsel & Trust offers investment advisory and trust services to individuals, families and institutions throughout the U.S., the companies said in a release. It manages more than $9 billion of assets, the release said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.