The US wealth and investment management arm of Barclays has officially been sold to Stifel Financial.

Stifel Financial has completed its acquisition of Barclays' US wealth and investment management franchise.

To further build out the firm's ultra high net worth capabilities, Stifel said it has made significant investments in infrastructure to support the combined platform in areas including product support, manager research and selection, portfolio construction, custom credit, and additional technology resources.

As part of the agreement, Stifel will now act as the US private wealth distribution channel for certain of Barclays' equities and credit new issue securities.