Results for "mergers & acquisitions"

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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...

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...

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...

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...

TD Ameritrade says trading impacted by Trump's tweets

January 18, 2017

TD Ameritrade Holdings Corp. saw its fiscal-year first-quarter average daily trading volume climb 11% over the same period last year, and at least part of that activity is being attributed to President-elect Donald Trump. During a Wednesday...

Fred Alger Management scoops up Boston-based asset manager

January 18, 2017

Alger Associates, the parent company of Fred Alger Management, is acquiring Weatherbie Capital, a Boston-based registered investment adviser with $800 million under management. The deal, expected to close in March, represents Alger's first acquisition...

Mercer Advisors buys $100M New York RIA firm

January 11, 2017

Mercer Advisors has completed its fifth acquisition in 12 months by locking up a deal with Novos Planning Associates. The addition of the $100 million registered investment advisory firm pushes Santa Barbara, Calif.-based Mercer's total assets...

Cambridge's Eric Schwartz looks into the future of independent broker-dealer industry

December 29, 2016

Eric Schwartz, founder, chairman and CEO of Cambridge Investment Research Inc., is one of the brightest guys in the securities business. One of the most unassuming, too. He started a predecessor to Cambridge in the 1980s but struggled with it...

Raymond James scores a duo from Wells Fargo Advisors

December 28, 2016

Raymond James & Associates has recruited a Westport, Conn.,-based advisory duo from Wells Fargo Advisors. Lynn Grossman and her business partner, Brian Vieira, managed more than $230 million at Wells Fargo and will now be working under the leadership...

IHT buying $700 million advisory firm as businesses seek scale

December 21, 2016

Chicago-based IHT Wealth Management is buying a $700 million advisory firm in Massachusetts in the first of several deals it's negotiating as more advisory firms seek to team up with each other to be more competitive. IHT Wealth Management is...

Private equity's future in the independent retail financial advice industry

December 20, 2016

On the surface, the independent retail financial advice space hardly seems like fertile ground for private equity activity. Between escalating regulatory costs, combined with demographic and technology shifts redefining how consumers receive...

Outlook for 2017: Strategists from Vanguard, Fidelity, Franklin Templeton, Ameriprise, BlackRock and others weigh in

December 20, 2016

Economists make predictions because people ask them to, and the same holds true for market strategists. Here's a roundup of predictions for 2017 from major fund companies and brokerages. VANGUARD: JOE DAVIS, CHIEF GLOBAL ECONOMIST, AND TEAM...

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