Evanston-based wealth management firm Kingsbury Holdings, Inc. has just doubled its size by acquiring Northfield-based Edwin C. Blitz Investments, Inc.

Kingsbury‘s managing director, Andy Zimmer, says that to house the new employees the company will be moving to new, larger space in the Rotary International Building, 1560 Sherman Ave., where its current offices are located.

Zimmer says that after committing to growing the company last year Kingsbury, which was founded in 2008, had already added about five people to its staff and will add another 10 with the acquisition of Blitz Investments.

The new entity will operate under the name Kingsbury Capital, Inc.

Zimmer says the expansion is aimed at continuing to grow Kingsbury’s ability to offer a full range of wealth management solutions.

The Blitz employees will add skils in the areas of insurance, annuities, risk management and the employee benefits space.

Ed Blitz, who founded his firm in 1978, said in a statement that, “With this partnership, we are now able to better focus on our clients and their needs and to fully utilize what is a truly outstanding wealth platform. The benefits to our clients are substantial and I could not have imagined a better outcome.”

Zimmer said there are many small, one- and two-person investment management shops in Evanston, “but we want to be more than that.”

He said the firm is seeking to grow a bigger presence on the North Shore “and have the investment community recognize us as a premier full service wealth management firm” while still offering quality “white shoe” service to professionals, business owners and retired individuals.

“Every one of our principals has worked at large, national firms,” Zimmer said, “but they operate in a manner that doesn’t align with the way we wanted to work.” Kingsbury clients, he said, benefit from a culture that is not burdend by a proprietary or corporate mandate to recommend one product over another. 

Bill Smith is the editor and publisher of Evanston Now.

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