"This merger or joint venture is nothing more than two enduring companies that are characterized by a fundamental duality: on one hand, our two firms have a set of timeless core values that remain constant over time; on the other hand, we have a relentless drive for change and progress," said VisionQuest's founder and chief executive, Steve Peters. "We recognize that this merger will enable us the flexibility to enhance our operating strategies and cultural practices."

ASC's president Chuck Hollander, who will stay on after the acquisition and transition period is completed, says VisionQuest was a top choice as a partner for his firm because of his ten-plus-year friendship and professional relationship with Mr Peters.

Prior to establishing VisionQuest, Mr Peters was one of the first SEI executives assigned to help establish the Pennsylvania-based manager of managers, Wealth Network. 

Jerry Penegor, ASC's operations chief, will work with VisionQuest staff to ensure smooth transitions for ASC clients to the VisionQuest platform.

ASC will lose its branding and become an office of VisionQuest, according to Mr Penegor.

The firms declined to provide financial details of the transaction.

Last year VisionQuest launched a creative-financing affiliate called VisionQuest Capital to provide its clients - many of whom are entrepreneurs - with advice on sourcing and structuring capital raisings between $2 million to $50 million for financing, re-financing, M&A transactions and corporate growth.

Some of the groundwork for VisionQuest's move into creative financing was done the last previous two years as it evolved into the role of outsourced CFO to closely held businesses, in addition to its role as a goals-based advisory to high net worth individuals and families.

Earlier in 2008, VisonQuest outsourced the traditional-investment part of its business over to Florida-based Lenger Asset Management.