Results for "mergers & acquisitions"

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Three keys to succession planning

December 15, 2017

The advisory profession is a noble one, wherein participants are entrusted with the important responsibility of helping clients to accumulate wealth, plan for the future and retire comfortably. However, the industry is at an inflection point....

FS Investments parts ways with Blackstone, announces new partnership with KKR

December 11, 2017

FS Investments, the leading sponsor of nontraded business development companies, took the first steps Monday that will lead to liquidity events for investors and the creation of a giant, $18 billion listed company. First, FS, which launched...

Why private equity wants a piece of the RIA market

December 9, 2017

The secret is out: The independent financial advisory space is the hottest growth-investment strategy for deep-pocketed private investors. "We've seen private equity money ebb and flow over the years, but over the last few years we've seen a...

Wentworth buys Purshe Kaplan Sterling

December 5, 2017

Independent broker-dealer mergers and acquisitions continue to heat up as a buyer of wealth management businesses, Wentworth Management Services, said on Tuesday afternoon it acquired Purshe Kaplan Sterling Investments, a boutique firm that...

Broker-dealer M&A: Is your firm next?

December 5, 2017

It seems obvious at this point that consolidation is a massive trend in the broker-dealer space. According to Finra, registered broker-dealers have been in steady decline for several years, dropping from 4,456 in 2011 to 3,869 at the end of...

New RIA aggregator enters 401(k) market

November 30, 2017

Hub International is a neophyte among so-called RIA aggregators focused on the retirement plan market, but it's making a grand entrance that signals competitive heft and further hints at a growing consolidation trend among plan advisers. Aggregators...

RIA valuations too specific to base on other sales

November 15, 2017

Financial advisers looking to catch a ride on the consolidation wave by putting their firm up for sale should be open to the reality that valuations are often more art than science. "Stay out of the valuation trap by worrying less about what...

Echelon: RIA M&A slowdown not due to fewer breakaway advisers

November 15, 2017

A new report from Echelon Partners confirms that merger and acquisition activity among independent advisory firms was slower in the third quarter of 2017, but doesn't attribute the dip to a decrease in the number of reps leaving brokerage firms....

LPL says it's on track to recruit 70% of National Planning Holdings revenue

November 8, 2017

A number of large teams in the National Planning Holdings adviser network have moved to rivals, but LPL Financial assured investors that in the initial phase of moving advisers from two of NPH's broker-dealers, it is on track to transfer 70%...

Breakaway broker deals a drag on M&A activity in third quarter

November 7, 2017

A recent slowdown in the pace of reps leaving brokerage firms is seen as largely responsible for the sudden dip in merger and acquisition activity in the advisory space, according to the latest report from DeVoe & Co. The question now, is whether...

RMB Capital to acquire Jacobus Wealth Management

October 26, 2017

RMB Capital, a Chicago-based RIA managing $8.4 billion, is acquiring Jacobus Wealth Management, a Milwaukee, Wisc.-based registered investment adviser that manages $860 million. The acquisition, terms of which were not disclosed, is scheduled...

Blaming the DOL fiduciary rule, LPL sees recruiting stall for second straight quarter

October 26, 2017

For the second consecutive quarter, recruiting stalled at LPL Financial, typically an industry powerhouse when it comes to hiring new advisers. In its third-quarter earnings release issued Thursday, parent company LPL Financial Holdings Inc....

Private equity firm Thomas H. Lee Partners buys stake in HighTower

October 25, 2017

This story has been updated with comments from industry consultants and additional quotes from Elliot Weissbluth. HighTower has announced plans to sell a "significant stake" of its sprawling advisory business to private-equity investor Thomas...

E*Trade gains a foothold in the RIA space, but it is going up against bigger competitors

October 20, 2017

E*Trade Financial Corp.'s acquisition of Trust Company of America is seen as a solid endorsement of the strength and profitability of the financial advisory business. The $275 million deal to buy the $17 billion-asset Denver-based custodian,...

7 trends of latest RIA mergers

October 19, 2017

A nine-year bull market has driven up assets under management and fueled a feeding frenzy for firms looking to buy a piece of the RIA space. Click through to see where records are being set and which players are gaining ground. Source: 3Q17...

E*Trade acquiring custodian Trust Company of America

October 19, 2017

E*Trade said Thursday it is buying Trust Company of America for $275 million in cash. Josh Pace, president and chief executive of Trust Company of America, said in a letter to the firm's investment-adviser clients that the transaction will close...

Private equity eyes advisory firms, but at what cost?

October 18, 2017

Private equity investors have their eyes on the financial advice market, but there's a debate brewing among industry executives over the merits of using that private capital. "Here's a news flash, Charlie: the independent space has been discovered....

New York-area bank chooses Cetera for clearing

October 12, 2017

Flushing Bank is moving its retail securities operation, which manages $225 million in assets, to Cetera from Infinex Financial Group, which is based in Meriden, Conn. Flushing is a Uniondale, N.Y.-based bank serving clients in New York City...

Tiedemann to acquire $3.4 billion Threshold, which has an interest in impact investing

October 12, 2017

Tiedemann Wealth Management, a New York-based RIA with $12 billion in assets under advisement, is acquiring Threshold Group, a Seattle-based wealth-advisory firm and family office with $3.4 billion in assets under management that was founded...

Newbridge Securities to be bought by foreign wealth management firm

October 11, 2017

Another independent broker-dealer is changing hands. This time, Newbridge Securities Corp., a mid-size firm with about 200 reps and advisers, will be acquired by a foreign firm, the London-based European Wealth Group. The deal was announced...

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