Results for "mergers & acquisitions"

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Private equity firms take controlling interest in Focus Financial

April 19, 2017

An investor group led by private equity firms Stone Point Capital and KKR is acquiring a majority stake in Focus Financial Partners, valuing the RIA rollup firm at approximately $2 billion. Selling shareholders include Focus' current private...

Oranj buys majority share in rebalancing software firm Trade Warrior

April 18, 2017

Digital advice platform Oranj has bought a majority stake in Trade Warrior, a portfolio rebalancing software firm, making it the latest technology company to bulk up its capabilities for financial advisers who are hungry for operational efficiencies....

Dynasty Financial Partners adds $750 million RIA

April 17, 2017

Next Capital Management, a 13-person registered investment advisory firm in New York managing $750 million in assets, has joined Dynasty Financial Partners. The firm, which was founded in 1999, is led by Andrew Hart, who formerly oversaw a team...

HighTower CEO confirms it is buying WealthTrust, its biggest deal ever

April 13, 2017

HighTower CEO Elliot Weissbluth confirmed Thursday that his firm is buying WealthTrust, its largest acquisition ever. The addition of WealthTrust's $6.4 billion in client assets lifts HighTower's total client assets to nearly $46 billion, which...

HighTower in talks to acquire 10 WealthTrust RIAs

April 7, 2017

Chicago-based jumbo RIA HighTower could add an additional $6.4 billion in assets under management if a deal goes through to acquire most of WealthTrust, a Houston, Texas-based affiliation of RIA firms. According to a report in The Wall Street...

Captrust acquires Windsor Financial Group

April 4, 2017

Captrust Financial Advisors has acquired Windsor Financial Group, a 30-year-old RIA firm in Minneapolis that manages $515 million in client assets. The addition of Windsor brings assets under management at Captrust, based in Raleigh, N.C., to...

Financial Media Exchange buys AdviceIQ

March 24, 2017

Financial Media Exchange, a content library for financial firms, is acquiring the assets of AdviceIQ, a similar service for financial advisers. Terms of the deal, announced in a release from Plymouth, Mass.-based Financial Media Exchange, were...

Lebenthal sells major stake to South Street Securities

March 7, 2017

Lebenthal Holdings, the successor of the municipal bond firm founded in 1925, has sold a 49% stake in its Lebenthal & Co. unit as well as 100% of its ownership interests in Lebenthal Asset Management and Lebenthal Family Office to South Street...

Lebenthal family seeking to sell firm

March 6, 2017

The second end of Wall Street's Lebenthal saga may be written soon, according to a story in The Wall Street Journal. The Journal reports that Alexandra Lebenthal, granddaughter of the firm's founders, is nearing a deal to sell the former municipal...

Many acquisitions of DC record-keeping businesses lose luster over time

February 22, 2017

Companies that once swallowed up DC record keepers and other benefits businesses to diversify, expand and increase shareholder value are now regurgitating them to consolidate — again to increase shareholder value. The latest example is Aon...

3 questions independent broker-dealers should ask private equity product sponsors

February 13, 2017

Just two years ago, non-traded real estate investment trusts and business development companies were in favor among retail investors seeking increased opportunities for yield. Since then, a combination of increased regulatory complexity, negative...

Houston-area Lifestyle Financial Advisors merges with nearby adviser

February 8, 2017

Lifestyle Financial Advisors has merged the Laura A. Nagle independent advisory practice, bringing total assets under management to $510 million, according to a press release issued by First Allied Securities, the firm's broker-dealer. Lifestyle...

Lovell Minnick buys majority stake in Foreside Financial

February 8, 2017

Lovell Minnick Partners, a private-equity firm based in Radnor, Pa., has agreed to purchase a majority stake in the Portland, Maine-based financial consulting firm Foreside Financial Group. Foreside, which has about 140 employees, provides a...

3 non-traditional methods for acquiring a financial advisory practice or book of business

February 7, 2017

In the highly-competitive acquisition landscape for independent financial advice practices, successful buyers need an edge. Embracing non-traditional acquisition methods provides an essential set of tools that may make the difference between...

Banks, credit unions could start buying advisory practices

February 1, 2017

In September, when Salem Five Bank acquired Stumm Financial Services, it set in motion a financial advice model that could become a blueprint for other banks and credit unions, and also represents new distribution for platforms like LPL Financial....

Smarter sellers, buyers bog down RIA M&A activity

January 30, 2017

The number of merger and acquisitions involving registered investment advisers fell by 25% last year. The latest M&A report from Fidelity Custody & Clearing describes the 104 deals in 2016 as an anomaly, and projects transactions for the current...

$4 billion hybrid RIA to leave LPL

January 27, 2017

Resources Investment Advisors Inc., a hybrid RIA with roughly $4.1 billion in assets that focuses on corporate retirement plans, and LPL Financial are parting ways, the two companies confirmed. A network of several hybrid registered investment...

Fintechs producing cheaper, automated firm valuations for advisers

January 24, 2017

Financial advisers looking to figure out what their businesses are worth today now have automated tools they can enlist for help. Essentially they require the advisory firm to provide information about key financial parameters such as how much...

Aspiriant's focus on scale and aggregation makes it a top-tier RIA consolidator

January 24, 2017

With $10.4 billion under advisement, Aspiriant is muscling its way toward the top tier of serious consolidators of registered investment advisers. Rob Francais, the enthusiastic CEO of the Los Angeles-based RIA, likes to reference his “100-year...

2017 to be year of independent broker-dealer mergers

January 22, 2017

If past is prologue, 2017 should see a steady pace of independent broker-dealer consolidation and mergers and acquisitions. Last year saw transactions involving firms that house thousands of registered reps and financial advisers as the industry...

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