Results for "mergers & acquisitions"

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Lightyear Capital's Donald Marron said to be in the hunt for Cetera Financial Group

March 22, 2018

Veteran brokerage executive Donald Marron is a serious contender to buy Cetera Financial Group, according to several sources familiar with the potential deal. Cetera, a network of six broker-dealers, is exploring a sale that could be worth about...

Merrill vets ready to recharge breakaway recruiting efforts

March 14, 2018

Snowden Lane Partners prides itself in not making a lot of noise around its practice of recruiting breakaway wirehouse teams to join its hybrid broker-dealer and independent investment adviser business. But at more than $4 billion in assets...

Three LPL affiliates, including Botsford Financial, create $2.6 billion OSJ

March 13, 2018

Three large LPL Financial affiliated practices have merged to create a $2.6 billion firm with an eye on future growth. Merit Financial Group of suburban Atlanta on Tuesday morning said it had bought and merged with Financial Development Systems...

Private equity dollars pouring into wealth management, fintech

March 7, 2018

Private equity investors continue to pour into the wealth management space, according to the latest research from Echelon Partners. A report being released today by the investment banking firm shows growing private equity influence on both advisory...

Buckingham acquires WealthQuest

March 6, 2018

St. Louis-based Buckingham Strategic Wealth has acquired WealthQuest Financial Services of Norfolk, Va., a registered investment adviser managing approximately $600 million in assets. Last month, Buckingham, which manages or administers more...

Mercer acquires $420 million Traust Sollus

March 5, 2018

Mercer Advisors Inc. has acquired Traust Sollus Wealth Management, a registered investment adviser managing $420 million in assets. Traust Sollis, which has offices in New York and Princeton, N.J., was founded as a certified public accounting...

Are LPL and Cetera Financial Group a potential match?

February 27, 2018

A securities analyst who covers LPL Financial Holdings Inc. wrote a note on Tuesday morning saying that it makes sense for LPL Financial to pursue an acquisition of Cetera Financial Group. "We believe the benefits of a Cetera acquisition are...

LPL wraps up NPH adviser move, declines to say whether it reached revenue goal

February 26, 2018

LPL Financial said Monday it had wrapped up its acquisition of advisers from National Planning Holdings, but declined to say whether it had reached its goal of moving over 70% of the revenue generated by the network's advisers. Last August,...

Cetera sale talk another distraction for advisers

February 26, 2018

A potential sale of Cetera Financial Group could be boon for its private equity owners, but turn out to be another distraction for its 8,000 advisers, who saw the company emerge from bankruptcy less than two years ago. On Friday, Bloomberg News...

Cetera reportedly exploring $1.5 billion sale

February 23, 2018

Cetera Financial Group, a network of six broker-dealers, is exploring a sale that could be worth about $1.5 billion, according to a Bloomberg report. The company, which houses around 8,000 brokers and advisers, began interviewing potential advisers...

Hub International acquires RIA with $850 million in retirement plan assets

February 21, 2018

Hub International, a firm new to the ranks of 401(k)-focused RIA aggregators, has acquired a Texas-based advisory firm overseeing roughly $850 million in retirement-plan assets. IPS Advisors, based in Dallas, is also an independent life and...

Buckingham Strategic Wealth acquires $350 million Stevens Wealth Management

February 15, 2018

St. Louis-based Buckingham Strategic Wealth, which manages or administers more than $12.6 billion in assets, has acquired Stevens Wealth Management, a Deerfield, Ill.-based registered investment adviser with approximately $350 million in assets...

Mercer Advisors adds $364M RIA in its third deal of 2018

February 13, 2018

Mercer Advisors has pushed its assets under management above the $12 billion mark with its latest acquisition of Clearwater, Fla.-based GFS Private Wealth. GFS, which has $364 million under management, represents the third acquisition this year...

EP Wealth Advisors acquires Millie Capital Management

February 13, 2018

EP Wealth Advisors, a registered investment advisor based in Torrance, Calif., managing $3.29 billion in assets, has acquired Millie Capital Management of Reno, Nev., and Walnut Creek, Calif. Terms of the acquisition were not disclosed. Millie...

Altegris merges with Artivest to create $3B alternative investments platform

February 8, 2018

Two alternative investment platforms are merging to create a comprehensive portal for connecting investors, through their financial advisers, with access to both registered and private investment products and strategies. The deal, announced...

Captrust acquires $300-million Utah hybrid

February 8, 2018

Captrust Financial Advisors has acquired Knox Capital Group, a hybrid firm based in Salt Lake City, Utah, managing more than $300 million in assets. Terms of the deal were not disclosed. Knox Capital was founded in 2003 and is led by partners...

As LPL buys broker-dealers, its rivals also benefit

February 8, 2018

The more broker-dealers LPL Financial buys, the better it is, not only for LPL itself, but also for the rest of the independent broker-dealer industry. An acquisition means disruption, and that turns into lots of advisers looking to move to...

Canadian PE firm buys Rosemont's interest in Westmount

February 6, 2018

Temperance Partners, a Canadian private-equity firm, has purchased a minority stake in Westmount Asset Management from Rosemont Investment Partners. Terms of the deal were not announced. Westmount, which manages more than $2.8 billion, is one...

Number of RIA deals down in 2017, new report says

February 1, 2018

Advisory firm merger and acquisition activity declined for the second straight year, but still ranked as the third-strongest year on record, according to TD Ameritrade Institutional's latest benchmarking report released Thursday. The pace of...

LPL Financial signs up 953 NPH advisers and $34.4 billion in assets

February 1, 2018

LPL Financial Holdings Inc. reported Thursday that it was on track to hit its target of bringing over 70% of the revenue of National Planning Holdings, a company it acquired last year. In its fourth-quarter earnings report, LPL did not report...

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