The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Beacon Capital Management, an RIA, has acquired Astor Investment Management, a $1 billion investment management firm based in Chicago.

The transaction â€“ the financial terms of which were not disclosed – is expected to close in August, Beacon said in a statement.

The assets under management sit in separately managed accounts, unified managed accounts, and mutual funds. The deal adds a macroeconomic, rules-based risk methodology that complements Beacon's data-driven investment strategies.

Astor's chief investment officer, Jan Eckstein, will join as assistant vice president, portfolio design. She will sit on Beacon's investment committee along with Astor's CEO, Bryan Novak.

"This acquisition is consistent with our ongoing mission to provide financial advisors with sophisticated, diversified investment solutions," Emily Damman, president of Beacon Capital Management, said.

Beacon, which is based in Dayton, Ohio, has more than $4 billion in assets under management across 25,000+ client accounts.