Dain Rauscher

(DRC)

agreed to acquire Minneapolis-based investment advisory company

Voyageur Asset Management

from

Dougherty Financial Group

.

Financial terms weren't disclosed, but Dain Rauscher said it expects to close the transaction by the end of the year. Voyageur will merge with Dain Rauscher's investment advisory unit

TheStreet Recommends

Insight Investment Management

to create a new firm that will have total assets of almost $13 billion.

In September, Dain Rauscher signed a definitive agreement to be acquired by

Royal Bank of Canada

(RY) - Get Report

in a $1.46 billion deal.

Shares of Dain Rauscher were recently trading up 38 cents, or 0.4%, to $93.44 on the

New York Stock Exchange

.