Results for "mergers & acquisitions"

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All in the family as RIAs step up to buy other RIAs

April 9, 2013

RIAs buying other RIAs will be a common theme over the next several years as firms look to grow via acquisition. The trick will be finding sellers who are not asking too much. One of the biggest shifts in the deal environment for registered...

RIA deal activity subdued in 2012 amid uncertain economy, shaky markets

April 8, 2013

Mergers and acquisitions involving RIA firms remained subdued last year as buyers and sellers held off in the face of an uncertain economy and fragile markets, according to Pershing Advisor Solutions LLC. In 2012, 35 transactions involving RIAs...

Cetera acquiring two B-Ds from MetLife

April 7, 2013

Cetera Financial Group is continuing its aggressive expansion, announcing last Friday that it had agreed to acquire two independent broker-dealers from MetLife Inc. for an undisclosed sum. The two MetLife broker-dealers, Tower Square Securities...

REIT spurns rival's offer, pursues its own agenda

March 24, 2013

In a move likely to confuse and perhaps anger some financial advisers, Cole Credit Property Trust III, a nontraded real estate trust, rejected an unsolicited offer to be acquired by a rival REIT and instead reiterated its plan to acquire its...

Two MetLife B-Ds on Cetera's radar

March 3, 2013

Cetera Financial Group is pursuing an acquisition of one or more broker-dealers, and industry sources say that two firms owned by insurance giant MetLife Inc. are logical targets. MetLife owns four independent broker-dealers: MetLife Securities...

RIA acquisitions down in 2012

February 3, 2013

Mergers-and-acquisitions activity by RIA firms last year was significantly less than some in the industry expected. Schwab Advisor Services' annual M&A survey, released last week, showed that while the average size of RIA deals increased substantially...

How much is that advisory firm in the window?

January 28, 2013

Advisory firm owners have unrealistic expectations about what their firms are worth. Sales of RIA firms usually are done based on a multiple of cash flow, but owners and founders often overestimate their free cash by forgetting to factor in...

National firms driving RIA deals

January 28, 2013

National firms participated in more than half of mergers and acquisitions in the registered investment advisory industry last year, according to data compiled by Schwab Advisor Services, which also found that while the number of deals in 2012...

Time may be running out on Legg name

January 20, 2013

Time may be running out for Legg Mason, at least as a mutual fund brand name. Legg Mason Capital Management — a household name in the 1990s, thanks to star manager Bill Miller's 15-year streak of beating the S&P 500 — is merging into Legg...

United Capital acquires Seattle RIA

January 16, 2013

United Capital Financial Advisers LLC has acquired Seattle-based registered investment adviser Paragon Investment Management Inc., giving the firm its first foothold in the Northwest region of the country. “The Northwest region was a gaping...

Urge to merge: Two RIAs plan to combine

January 8, 2013

Registered investment advisers Argent Financial Group Inc. and Highland Capital Management LLC have agreed to merge. The two firms — the first based in Ruston, La., and the second in Memphis Tenn., manage more than $4.3 billion in assets between...

Top adviser Q&A: John Enright

December 20, 2012

John Enright, a principal at Custom Wealth Management in Syracuse, NY, discusses the challenges of developing a succession plan, including how to determine compensation, whether to bring in a third party and, most importantly, figuring out what's...

J.W. Cole set to go nationwide with deal

November 25, 2012

Tampa, Fla.-based broker-dealer J.W. Cole Financial Inc. is acquiring Financial Advisers of America LLC of Carlsbad, Calif., the firms said last week. J.W. Cole, which has about 300 independent-contractor representatives, will add 100 from FAA....

Advisers rushing to get deals done by end of the year

November 11, 2012

With two major mergers already in the books this month, investment advisers in the midst of selling their practices are going all-out to complete those deals to avoid tax increases that could take effect Jan. 1. “This year, if your deal isn't...

Another RIA acquisition — and it's in California again

November 9, 2012

Deals for registered investment advisor firms keep on coming. Beacon Pointe Advisors on Monday will announce the addition of its third partner firm, Wealth Management Network of Newport Beach, Calif., which has $130 million in assets under management....

First Republic Bank buys Luminous Capital

November 5, 2012

Luminous Capital Holdings LLC, a fast-growing registered investment advisory firm based in Los Angeles, sold itself to San Francisco-based First Republic Bank on Friday in a major deal in the wealth management industry. “Luminous Capital clients...

First Allied buys Waddell & Reed unit

October 31, 2012

Independent broker-dealer First Allied Holdings Inc. announced Wednesday the acquisition of The Legend Group, an investment advisory firm, from Waddell & Reed Financial Inc. Palm Beach Gardens, Fla.-based Legend specializes in retirement solutions...

Mariner takes stake in RiverPoint

October 30, 2012

Mariner Wealth Advisors has acquired a majority stake in RiverPoint Capital Management, a Cincinnati-based wealth management firm with $1.3 billion under management. Terms were not disclosed. RiverPoint , which has a unit specifically catering...

Long line of suitors for Genworth investment units

October 21, 2012

If Genworth Financial Inc. has its asset management business on the block, the company should have no shortage of suitors. Reuters reported that Genworth had hired The Goldman Sachs Group Inc. to find a buyer for its turnkey asset management...

Growing through acquisition or recruiting advisers

September 26, 2012

Looking to expand your business by positioning your firm to be the “succession solution” for an impending wave of older advisers who eventually will exit the business? Trying to capture market share by recruiting breakaway advisers? Independent...

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