SAGE Private Wealth Group, a Wheaton, IL-based independent firm affiliated with Raymond James Financial Services, has made two strategic additions in recent months, bringing its total client assets to $400 million.

SAGE Private Wealth Group, a Wheaton, IL-based independent firm affiliated with Raymond James Financial Services, has made two strategic additions in recent months, bringing its total client assets to $400 million.

SAGE acquired St Charles, IL-based Frank Advisor Services, which was founded by Michael Frank in 1994. Frank managed nearly $100 million in client assets, produced approximately $700,000 annually and was affiliated with LPL for almost 20 years.

He joins SAGE as a managing director and partner and will continue to serve his clients as well as manage the operations of the St Charles office, which became SAGE’s fourth location.

Meanwhile, Oliver Ernst joined RJFS as a wealth advisor and SAGE as a partner, based in downtown Chicago. Until the move, Ernst had spent his entire 11-year financial services career at Ameriprise. He manages $60 million in client assets and has fees and commissions of $570,000 per year.