07:47 AM EDT, 05/30/2024 (MT Newswires) -- UMB Financial ( UMBF ) unit UMB Fund Services has agreed to sell its broker-dealer distribution business to ACA Group for an undisclosed sum, ACA said Thursday.

The transaction is expected to close in Q4.

Following the transaction, over $48 billion in client assets will be introduced to ACA, allowing UMB Financial's ( UMBF ) current clients access to ACA's advisory support and technology.