Results for "mergers & acquisitions"

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Why did Sterne Agee fire its CEO?

June 8, 2014

Sterne Agee Group Inc., a private holding company with a number of broker-dealer subsidiaries, two weeks ago gave the heave-ho to its longtime chairman and chief executive, James Holbrook Jr., and replaced him with company veteran Eric Needleman....

Japan's Dai-ichi Life to buy Protective Life for $5.7 billion

June 4, 2014

Dai-ichi Life Insurance Co. will buy Protective Life Corp. (PL) for about 582.2 billion yen ($5.7 billion) to expand into the faster-growing U.S. market, marking the biggest foreign acquisition by a Japanese life insurer. Dai-ichi, Japan's second-largest...

Bob Doll: Bond yields are due for a comeback

June 3, 2014

Low levels of market volatility, a pickup in M&A activity, a difficult revenue environment for banks and improving housing data all gather headlines, yet the bond market garners the most focus. Since declining bond yields are often associated...

Opposition mounts to Inland merger

June 3, 2014

Opposition is beginning to mount three weeks before a planned $2.1 billion merger of nontraded REIT, Inland Diversified Real Estate Trust Inc., and publicly traded real estate investment trust, Kite Realty. Unite Here, a union representing employees...

Morningstar in $52.5 million deal for online financial service HelloWallet

May 30, 2014

Morningstar Inc. announced Thursday it will acquire online financial wellness provider HelloWallet Holdings Inc. in a $52.5 million deal. Despite the price tag, the transaction will cost Morningstar $39 million because the independent investment...

Erinn Ford named president of Cetera Advisors

May 21, 2014

Cetera Financial Group continues to shake up its management lineup, promoting Erinn Ford to president of one of its broker-dealers, Cetera Advisors. Most recently, Ms. Ford was senior vice president of adviser relations for Cetera Advisors,...

Larry Roth wants to double Schorsch's B-D network

May 16, 2014

Larry Roth, the new head of Nicholas Schorsch's burgeoning independent broker-dealer network, said he expects to have 20,000 brokers on board within five years, which could make it the largest such firm in the country. Mr. Roth was appointed...

Obama unleashes secret economic weapon on Russia

May 6, 2014

Twenty-nine of the 30 Dow Jones companies have supported the Clintons in some way, shape or form. The holdout: UnitedHealth Group Inc. (UNH). The multiple routes to the Clintons Live from Boston, I talk alternative investments with John Nersesian,...

7 biggest ways top-performing firms sustain their growth

May 1, 2014

Advisers spend a lot of time thinking about their growth strategies. Two years ago, when InvestmentNews fielded the 2012 InvestmentNews/Moss Adams Financial Performance Study of Advisory Firms, we identified a subset of firms that were deemed...

Schorsch's RCS Capital closes Cetera Financial Group acquisition

April 30, 2014

RCS Capital Corp. on Tuesday said it had closed its previously announced $1.15 billion acquisition of Cetera Financial Group, which contains four distinct broker-dealers that house about 6,600 registered reps and investment advisers. RCS Capital,...

Midwestern Mariner sails into the Northeast with acquisition

April 21, 2014

Mariner Wealth Advisors, a large independent advisory firm, has acquired a majority stake in a northeastern U.S. firm that manages $817 million in assets. The acquisition of the stake in Manasquan, N.J.-based Housen Financial Group Inc. boosts...

Baird merging with Pacific Northwest firm that has 85 advisers

April 10, 2014

Robert W. Baird & Co. Inc. has agreed to merge its regional brokerage operation, one of the largest in the U.S., with a Seattle-based firm that manages $10 billion. Baird's merger with McAdams Wright Ragen Inc. stands to increase its adviser...

Three big trends top advisers need to focus on now

April 9, 2014

Forward-thinking independent advisory firms have no shortage of substantive industry trends on which to focus in 2014 — from increasing uncertainties in the regulatory environment to the unyielding pace of technological change to new outsourcing...

Schorsch teeing up another possible broker-dealer acquisition

April 8, 2014

Nicholas Schorsch has yet another potential broker-dealer acquisition teed up. All he's waiting for is his $1.15 billion purchase of Cetera Financial Group to close. According to a filing with the Securities and Exchange Commission for Mr. Schorsch's...

Southwest Securities sold as part of merger

April 1, 2014

After a dormant couple of months, broker-dealer mergers and acquisitions came to life Tuesday when Hilltop Holdings Inc. and SWS Group Inc., the parent company of Southwest Securities Inc., said that they have entered into a definitive merger...

Newborn Lebenthal RIA triples its assets but expects more to come

March 27, 2014

Lebenthal Holdings stands to triple the size of its new wealth management unit with the acquisition of the business of two Morgan Stanley brokers who manage $1.2 billion in assets. But that's just the beginning, if the CEO has his way. If a...

Bank executives adopting the RIA model as they build wealth units, Fidelity study finds

March 5, 2014

If it walks like an RIA, and talks like an RIA, it may be a bank. Bank executives are adopting the model of registered investment advisers as they build their wealth management units, but they don't yet see those firms as their biggest competitors....

Oregon advisers blaze their own trail

March 4, 2014

A group of Portland, Ore.-based Bank of America Merrill Lynch veterans that advises on more than $700 million in client assets has broken away to form its own registered investment advisory firm, according to a statement issued Tuesday by the...

Cantor Fitzgerald makes big splash in wealth management with First Commonwealth deal

February 27, 2014

Cantor Fitzgerald, the storied trading firm, is starting to make inroads in the wealth management business. In a move that signals its growth ambitions, the firm said Thursday that its new wealth management unit has agreed to buy the business...

Steward Partners adds consulting unit

February 20, 2014

A new Raymond James-backed firm launched by wirehouse exiles is building a consulting unit. Steward Partners Holdings acquired the practice of a New York-based recruiter with roots in management at Morgan Stanley, Steward Partners annnounced...

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