Jack Riesch, Bryon Riesch and Stephanie Riesch-Knapp, owners of Waukesha-based R&R Insurance Services Inc., have acquired Jannsen Wealth Management Inc. and formed a new company, Waukesha-based R&R Wealth Management LLC. The transaction closed Jan. 1 for an undisclosed price.
[caption id="attachment_323609" align="alignright" width="387"] BizTimes publisher Dan Meyer speaks with Ken Riesch and Jack Riesch of R&R Insurance at the 2017 BizTimes Family & Closely Held Business Summit.[/caption]
Jannsen Wealth Management was formed in 1997. Jannsen Wealth Management had three employees, who will make up the total staff of R&R Wealth Management. The company will continue to operate out of the existing Jannsen office.
R&R Wealth Management is a separate company from R&R Insurance. R&R Insurance has about $35 million in revenue, with about 200 employees at offices in Menomonee Falls, Oconomowoc, West Bend, Beaver Dam and Madison. The firm has been growing strategically by acquiring other insurance firms over the past several years, including Frett Barrington and Bartelt Insurance Agency.
The Jannsen and Riesch families have had business and personal relationships for more than 30 years, they said in an announcement of the transaction.
“We are incredibly excited about the partnership with R&R and the Riesch family,” said Terry Jannsen, president of Jannsen Wealth Management. “Together we plan to grow our services and continue serving clients throughout southeast Wisconsin and beyond.”
“This is an exciting opportunity for both firms to showcase our complementary strengths while also expanding our service offerings,” Jack Riesch said. “We are excited about the opportunity and look forward to the long-term growth of R&R Wealth Management.”