Midland States expands wealth management group with CedarPoint acquisition
EFFINGHAM — Midland States Bancorp Inc. has expanded its wealth management services with the acquisition of CedarPoint Investment Advisors, an SEC registered investment advisory firm located in Delafield, Wisc.
Founded in 2009, CedarPoint provides clients with a range of financial planning and investment services and has approximately $180 million in assets under administration.
The transaction increases the size of Midland’s Wealth Management group to approximately $1.9 billion in assets under administration and 50 financial professionals.
“We are very pleased to welcome CedarPoint’s talented team of investment advisors and their clients to Midland,” said Eric Chojnicki, president of Midland Wealth Management. “The acquisition of our first RIA expands upon the fiduciary relationship, asset-based fee model that we have built at Midland Wealth Management. CedarPoint has also built a successful firm based on complete fee transparency and unbiased investment advice. The philosophy, values and expertise of Dan Wilson and Bob Dignan, CedarPoint’s principals, are a strong fit with the holistic approach we have at Midland to serve every area of our clients’ financial needs.”
Wilson said: “We are enthusiastic about joining forces with Midland and the opportunities it presents for our clients and the firm. Midland combines the strength of a larger financial institution and a 135-year tradition of customer-centric philosophy. It has a large team of financial professionals and a long history of serving families and business owners. We are particularly impressed by Midland’s culture and its approach to business, which we believe mirrors our own.”
CedarPoint will continue operating from its current location in Delafield, WI. More information on the firm can be found on its website at www.cedarpointinvestments.com.
Midland States Bancorp is a community-based financial holding company headquartered in Effingham and is the sole shareholder of Midland States Bank, whose operations include several locations throughout Central and Southern Illinois.
— From the Illinois Business Journal
