Results for "mergers & acquisitions"

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Wealth Enhancement Group acquires Cimino Wealth Advisors

June 13, 2018

Wealth Enhancement Group, an independent hybrid firm managing $8.4 billion in assets, has acquired Cimino Wealth Advisors, a hybrid managing $494.5 million in client assets in Clinton, Wisc. Terms of the acquisition were not announced. Wealth...

Selling your advisory firm internally could mean taking a valuation hit

June 7, 2018

Advisory firm owners who are considering selling their firm internally in a succession-plan transaction rather than to outside buyers might be taking a valuation hit, according to Daniel Seivert, chief executive of investment bank Echelon Partners.​...

Why 401(k) advisers should heed TPA consolidation

June 6, 2018

Third-party administrators have been in the spotlight following a string of recent acquisitions, and retirement plan advisers should take note. TPAs, which provide administrative services to defined-contribution plans, have been getting more...

Private equity money altering the wealth management ecosystem

June 6, 2018

The influence of private equity investments on the financial advice industry is creating a full-blown "ecosystem" that will impact even smaller-sized registered investment advisers, according to the latest research from Fidelity Clearing & Custody...

Neil Hennessy: Active managers can grow their assets with acquisitions

June 5, 2018

Neil Hennessy is founder and chief investment officer of Hennessey Advisors Inc., a $6.6 billion publicly traded investment management company that offers 14 mutual funds to the public. Mr. Hennessy, who started his career as a PaineWebber broker...

EP Wealth Advisors buys $400 million Donnelly Wealth Advisors

June 4, 2018

EP Wealth Advisors, an RIA firm now managing $3.6 billion in assets and headquartered in Torrance, Calif., has acquired Donnelly Wealth Advisors of San Diego, which manages $400 million. (More: RIA mergers and acquisitions set another record...

Principal Financial acquires digital advice startup RobustWealth

May 30, 2018

Principal Financial Group is acquiring financial technology startup RobustWealth to improve its own technology offering and expand distribution capabilities among the banking, broker-dealer and registered investment adviser channels. Principal...

Former Barclays wealth management executive wins $2.7 million arb award from former firm

May 23, 2018

A former top executive at Barclays Capital Inc. won a $2.7 million Finra arbitration award, stemming from a dispute over compensation he claimed Barclays owed him when it sold its wealth management group to Stifel Financial Corp. in 2015. Now...

RIA in a Box acquired by private equity firm Aquiline Capital

May 23, 2018

Software service provider RIA in a Box has been acquired by the private equity firm Aquiline Capital Partners. While the terms of the deal were not disclosed, this represents the latest in a growing trend of P-E investors adding exposure to...

Insurers are selling off old annuity business — what advisers need to know

May 23, 2018

Insurance companies have been selling old blocks of annuity business at a rapid clip, and it's likely the quick pace of transactions will continue at least through this year and possibly beyond. This could ultimately be bad news for policyholders...

LPL, Lightyear Capital indicate interest in acquiring Cetera Financial Group

May 15, 2018

An earlier version of this story incorrectly stated that LPL Financial had missed the deadline for signing the confidential nondisclosure agreement. LPL Financial and Lightyear Capital, the owner of Advisor Group, are in the running to buy Cetera...

Adviser's Consultant: Building a flexible succession plan

May 11, 2018

Jack Hillis isn't quite ready to stop working with clients or give up his lifestyle advisory practice, but at 74 years old, he knew he needed a succession plan in place. His solution was to complete all the paperwork for a sale that will take...

Harnessing RIA M&A strategies for growth

May 10, 2018

With the RIA industry setting itself up for further consolidation based on the macro trends impacting the industry, the opportunity for peer-to-peer M&A activity is increasing dramatically. Multiple industry studies are anticipating record levels...

Bill Kline out as head of Gallagher's $55 billion retirement-plan aggregator

May 9, 2018

Bill Kline, the head of Arthur J. Gallagher & Co.'s retirement plan consulting unit — which has more than 60 advisers overseeing $55 billion in defined-contribution-plan assets — has left amid a reorganization of his group. Mr. Kline, 53,...

BlackRock bets on small-time investors with stake in Acorns

May 9, 2018

BlackRock Inc., already sitting on a mountain of assets, is turning its attention to a much smaller market — your pocket change. The $6.3 trillion money manager said it became an anchor investor in Acorns, an app that allows rookie investors...

Merger of CFO4Life and Vogel creates $1.2 billion firm

May 7, 2018

Vogel Financial Advisors, a hybrid wealth management firm managing $425 million in Richardson, Texas, has merged with CFO4Life, which manages $750 million in nearby Coppell, Texas, near Dallas. Mike Busch, the principal of Vogel, will join CFO4Life...

3 insights on the Financial Engines-Edelman combination and how it might affect you

May 3, 2018

On Monday, Financial Engines announced that it was being taken private by the respected private equity firm Hellman & Friedman for $3 billion in cash, a 30% premium over the pre-announcement closing price. Financial Engines will merge with Edelman...

China's HNA drops bid to buy Anthony Scaramucci's SkyBridge

May 1, 2018

HNA Group Co. and SkyBridge Capital have agreed to drop the Chinese conglomerate's plan to acquire the investment firm. Founder Anthony Scaramucci will return as a co-managing partner. The New York-based hedge fund and the aviation-to-real estate...

Financial Engines to be purchased for $3.02 billion, combined with Edelman

April 30, 2018

The $3.02 billion acquisition of Financial Engines announced Monday is likely to spur more interest on the part of private equity to bring together long-standing advice firms with robo advisers, experts said. The acquirer, private equity shop...

Funds that let investors tap into M&A fever

April 30, 2018

T-Mobile US Inc. plans to buy Sprint Corp. in a $26 billion deal that is just the most recent round of M&A activity in the U.S. this year. Why are so many companies feeling the urge to merge, and how can investors best take advantage of this...

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