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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...

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...

Lightyear Capital-backed Wealth Enhancement buys CLA Financial Advisors

December 15, 2016

Advisory firm Wealth Enhancement Group announced it's purchasing a $200 million wealth management firm, its third acquisition since being bought by private equity firm Lightyear Capital 18 months ago. In its latest push towards becoming a national...

Mercer Advisors acquires California RIA Fabian Wealth Strategies

December 14, 2016

Santa Barbara, Calif.-based Mercer Advisors announced Wednesday morning that it has acquired Fabian Wealth Strategies, a Costa Mesa, Calif.-based advisory firm with $95 million in client assets. Mercer Advisors is the parent company of Mercer...

Aspiriant picks up $850M Silicon Valley RIA

December 12, 2016

The growth continues for Aspiriant, as the Los Angeles-based advisory firm is about to lock up its third RIA transaction in a year, with at least two more deals slated in coming months. In the latest deal, which is expected to close Jan. 31,...

Best Buy founder among outsiders betting on financial advice firms

November 22, 2016

The demand for advisory firms to grow larger and larger has some reaching out to strange bedfellows for financial support. Best Buy founder Richard M. Schulze is among the investors who recently took a 25% stake in Meristem Family Wealth, a...

Schwab among the bidders for LPL: website

November 17, 2016

Shares of LPL Financial Holdings Inc. continued to climb today after a market website, StreetInsider.com, reported late Wednesday that the Charles Schwab Corp. was one of the bidders for the company. The website said that it based its report...

Independent RIA managing $395 million of client assets joins LPL Financial

November 7, 2016

An independent registered investment adviser and broker-dealer managing $395 million of client assets has joined LPL Financial, due in part to the prospect of increased regulation. Puplava Financial Services Inc., operated by founder James “Jim”...

Horizons ETF Management expands U.S. footprint with Recon Capital buy

November 4, 2016

Horizons ETF Management has entered into an agreement to acquire Recon Capital Advisors LLC in a move that illustrates the growing appeal of the U.S. ETF market. According to the terms of the agreement, the members of Recon Capital along with...

Seeing green, asset managers ramp up purchases of ESG shops

November 3, 2016

Sometimes, when two companies like each other very much, they get the urge to merge. And lately, romance has been blossoming among companies dedicated to environmental, social and governance issues. And the interest is not just coming from millennials....

Strategic Insight acquires BrightScope

November 1, 2016

BrightScope Inc., a financial services data provider, has been acquired by Strategic Insight, according to an announcement Nov. 1. Founded in 2008 by two brothers, Mike and Ryan Alfred, San Diego-headquartered BrightScope is well known for its...

Janus in a double whammy as assets flee and revenue drops

October 27, 2016

Janus Capital Group, in process of being bought by Henderson Group, saw $2 billion in assets flee in the third quarter. To make matters worse for Janus, revenues have dropped from lower fees. If you think that regulators are done scrutinizing...

China Oceanwide agrees to buy Genworth for $2.7 billion in cash

October 24, 2016

China Oceanwide Holdings Group Co. agreed to buy Genworth Financial Inc. for $2.7 billion in cash, pledging to help the U.S. firm manage its debt and strengthen life insurance units after it was hurt by higher-than-expected losses tied to long-term...

SS&C acquires CRM firm used by large wealth managers

October 24, 2016

Financial software firm SS&C Technologies Holdings bought client relationship management provider Salentica for an undisclosed amount, the firms said Monday. About 100 large advisory and other wealth management firms use Salentica's CRM, which...

RIA firms see record number of M&A deals in first nine months of 2016

October 24, 2016

Deal making in the registered investment advisory industry reached a new record this year as the pace of mergers and acquisitions remained elevated in the third quarter. There were 109 M&A deals through September, up from 100 during the first...

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