StanCorp Investment Advisers Inc. in Portland, Ore., announced Thursday that the firm has completed its acquisition of
Indianapolis-based Redwood Investment Advisers Ltd.
Terms of the sale were not disclosed.
Located downtown, Redwood is an independent, fee-only investment advisory firm that provides asset management, tax and financial planning services to high net-worth individuals and pension plans. Much of its business includes physicians and physician groups.
Founded in 1988 by Ted and Judith Christofolis, the firm has $350 million in assets under management, according to Ted Christofolis. The addition of Redwood pushes StanCorp’s total assets under management to more than $1 billion, the company said. StanCorp serves more than 1,200 clients in nine U.S. locations.
Christofolis said he and his wife likely will remain with the company for the next few years.