Thanks to a recent mutual fund merger, a midwestern broker-dealer and RIA is teaming up with a fund firm.
| John Kailunas II|
Regal Financial Group
Last month, Regal Investment Advisors' Regal Total Return Fund merged
into North Star Investment Management's North Star Opportunity Fund
]. Grand Rapids, Michigan-based Regal, a full-service RIA with its own sister B-D, and Chicago, Illinois-based North Star, a fund firm, will have "a bright future together" thanks to the deal, Regal CEO John Kailunas
"We decided we could get bigger quicker by teaming up with the professionals at North Star ... We're going to handle the distribution," Kailunas says. "North Star doesn't have a great deal of distribution, and we're hoping to change that."
"It was a perfect hand in glove opportunity for us to increase our size, increase our distribution, and lower costs for the retail," Kailunas adds. "We see a tremendous opportunity with the two firms aligned moving forward in the same direction."
Regal's Jim Tassoni
now serves as a PM at North Star, and he continues to serve as chief investment officer for Regal Investment Advisors, too, Kailunas confirms.
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