CHICAGO — New Jersey-based Acacia Financial Group Inc. announced Tuesday the expansion of its Chicago office and a new Alaska outpost with the hiring of two former Scott Balice Strategies LLC financial advisers, Phoebe Selden and Debbie Schnebel.

The two were offered positions with Public Financial Management Inc., which acquired Chicago-based Scott Balice on Monday, but opted instead to join Acacia — a much smaller shop than the top-ranked PFM but one they believed offered a more congenial culture and business model, sources said.

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