Results for "mergers & acquisitions"

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Independent broker-dealer M&A market is heating up

January 19, 2014

After a blistering year for mergers and acquisitions among independent broker-dealers in 2013, this year has already seen robust deal making. Last week, RCS Capital Corp., whose chairman is industry upstart Nicholas Schorsch, said it was buying...

Southwest Securities could be sold to big shareholder

January 10, 2014

SWS Group Inc., the parent company of Southwest Securities Inc., on Friday confirmed that its board had received a takeover bid from one of its biggest investors, Hilltop Holdings Inc. Hilltop, which owns a bank, a mortgage lender and another...

Legg Mason hires Wells Fargo exec to head acquisitions

January 6, 2014

After five years of net withdrawals, Legg Mason Inc. hired Thomas Hoops from Wells Fargo & Co. to head business development as the firm seeks to expand its products and make acquisitions. Mr. Hoops, who was head of affiliated managers for Wells...

Savant Capital acquires Northern Illinois RIA

December 11, 2013

Independent registered investment adviser Savant Capital Management has agreed to acquire Paragon Advisors, a Naperville, Ill.-based RIA, in a deal that will boost Savant's assets under management to $3.7 billion. Terms of the acquisition were...

Merger math: Can 1+1 = 3?

December 11, 2013

I recently participated in a panel discussion at Schwab Impact, detailing various ways to streamline your firm's operations to enhance growth either through acquisition or by opening offices in new locations. The session was so well-attended,...

Wealth Enhancement Group moves into Chicago area

December 11, 2013

In its first step toward building a nationwide brand, Minneapolis-based Wealth Enhancement Group has struck a deal with a Illinois registered investment adviser. Wealth Enhancement Group, with $3.7 billion in assets under management, has merged...

RidgeWorth breaks from SunTrust in private-equity deal

December 11, 2013

RidgeWorth Capital Management Inc. said Wednesday that it is leaving its longtime owner, SunTrust Banks Inc., to create a separate investment company in a deal funded by private-equity firm Lightyear Capital. In partnership with Lightyear, employees...

Mariner snaps up New York advisory firm with $780M in assets

December 3, 2013

Mariner Wealth Advisors has acquired a New York City-based financial advisory firm that manages $780 million for clients, a spokeswoman for the firm said on Monday. The deal to join forces with the 20-person staff at RR Advisory Group is a coup...

The startup costs of advisers' going solo

November 22, 2013

When asked by financial advisers if it's too expensive to go out on their own, set up shops and create unique brands, I tell them they will definitely incur costs but they aren't necessarily prohibitive — especially for those with an entrepreneurial...

Schorsch snaps up Summit for $49M

November 18, 2013

Nicholas Schorsch and RCS Capital Corp. continue their blistering pace of broker-dealer acquisitions, this morning announcing the purchase of Summit Financial Services Group Inc. RCS Capital, which is publicly traded with the symbol RCAP, is...

Zywave breaks in two

November 5, 2013

Zywave Inc., a provider of insurance and financial planning software, said Monday that it will sell both its name and its Insurance Solutions Division to Aurora Capital Group, a private-equity firm. After closing, the insurance division will...

Southern California RIA looks to acquire

October 15, 2013

An independent financial advisory firm in Southern California with $1.4 billion in assets under management is opening its wallet and looking for deals. Torrance, Calif.-based EP Wealth Advisors Inc. is looking to acquire other firms in Southern...

Two RIAs combine to create $3 billion firm

October 8, 2013

Two independent advisory groups in the Northeast have combined to create a firm with more than $3 billion assets under management. The Colony Group LLC acquired Prosper Advisors LLC, an independent registered investment adviser based in New...

Schorsch's RCAP completes First Allied deal

September 25, 2013

RCAP Holdings LLC said on Wednesday that it had completed its previously announced acquisition of First Allied Holdings Inc. RCAP Holdings is managed by Nicholas Schorsch, a noted manager of nontraded real estate investment trusts, and his team;...

Specialized IBD to take on 50 reps and advisers from Veritrust

September 11, 2013

PlanMember Financial Corp., a 400-representative independent broker-dealer that works with reps and advisers who specialize in retirement plans of school districts and other nonprofit organizations, is expanding. The broker-dealer said today...

Is Investors Capital in play?

September 9, 2013

Heavy trading and a run-up in the share price of Investors Capital Holdings Ltd., the parent company of independent broker-dealer Investors Capital Corp., is fueling speculation that the firm has become an acquisition target. Last Thursday saw...

Canadian firm snaps up L.A.-based wealth manager with $7.3B in assets

September 4, 2013

Montreal-based Fiera Capital Corp. said yesterday it reached an agreement to acquire Los Angeles-based Bel Air Investment Advisors LLC, an ultra-high net worth firm with $7.3 billion under management and advisement. Publicly traded Fiera (TSX:...

The Takeaway: Nasdaq reopens to wild applause

August 22, 2013

Portfolio Nasdaq halts for a few hours inexplicably, reopens and stocks soar. Yeah, I don't get it either.  (CNBC) Deutsche Bank strategist Makoto Yamashita on the prospects of a real U.S. recovery: "LOL"  (BusinessInsider) Mom & Pop investors...

RIAs the busy beavers in M&A

August 22, 2013

Registered investment advisory firms continue to be the most active players in the mergers-and-acquisitions game, according to Pershing Advisor Solutions LLC’s latest analysis of M&A trends in the financial services industry. RIAs’ buying...

AMG takes minority stake in wealth management firm

August 19, 2013

AMG Wealth Partners LP, a subsidiary of Affiliated Managers Group Inc., has acquired a minority interest in Clarfeld Financial Advisors LLC, a wealth management firm with about $4 billion in client assets. In an ownership and management structure...

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