Buffalo Grove, Ill. (Oct. 6, 2003) -- Fee-only financial planning firm Successful Financial Solutions Inc., based in Northbrook, Ill., has merged with Leonetti & Associates, a fee-only provider of family office services, based here.
The combined entity, which manages about $350 million in assets, now operates under the Leonetti moniker. The move gives Leonetti a presence into Las Vegas, where SFS has a second office.
"Leonetti & Associates has the same philosophy we do in terms of being fee-only," said Sidney Blum, SFS founder and principal, and now an equity partner at Leonetti & Associates. "Mike [Leonetti] and I have known each other for a long time because we're in the same market. When we talked, we realized that operationally we're doing things pretty much the same, so we knew it wasn't going to be major cultural clash."
Blum, along with two SFS other principals, one senior planner and two administrative staff members, moved into Leonetti's Buffalo Grove office, expanding its ranks to total 22 staff. SFS co-founder and principal Richard Chiozzi retired from the firm last year, and another principal, Pat Doland, is setting up his own practice, Blum said.
-- Melissa Klein
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