Results for "mergers & acquisitions"

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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....

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...

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...

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...

Dan Arnold's big gamble at LPL Financial

October 7, 2017

DAN ARNOLD, THE NEW CEO of LPL Financial Holdings Inc., is making bold moves to increase profitability at the nation's largest independent broker-dealer, and while he's pleasing Wall Street, some LPL affiliates and advisers are questioning how...

IBD mergers gain steam as year unfolds

October 4, 2017

After a slow start to the year, independent broker-dealer mergers and acquisitions have picked up pace. Most notably, LPL Financial in August said it bought the assets of the four firms in the National Planning Holdings Network. A recent report...

Kovack Securities buys brokerage assets of Capital Guardian

September 27, 2017

Kovack Securities Inc. said on Wednesday it had purchased the brokerage assets of Capital Guardian, a wealth management firm with 35 financial advisers that shut down its broker-dealer in July, according to its BrokerCheck report. It was Kovack...

Envestnet to buy FolioDynamix

September 25, 2017

Envestnet Inc., a wealth management and technology platform used by financial advisers, said on Monday after the market closed it intended to acquire FolioDynamix, a technology and asset management firm, for $195 million in cash. At the end...

HighTower faces pressure to let investors cash out

September 25, 2017

HighTower Advisors CEO Elliot Weissbluth built one of the biggest wealth adviser networks in the U.S. Now he just needs to figure out how to deliver riches to its investors. An initial public offering for the Chicago company expected last year...

With margins crashing, broker-dealers look to merge: report

September 21, 2017

As operating margins of independent broker-dealers have crashed over the last decade, two types of business models have emerged as the industry steadily consolidates: large firms with scale and smaller, more focused firms serving a niche. That's...

CAPTRUST acquires Davidson & Garrard, a $700 million RIA

September 20, 2017

CAPTRUST, a Raleigh, N.C.-based RIA, has acquired Davidson & Garrard, a registered investment advisory firm managing $700 million in Lynchburg, Va. Terms of the deal were not announced. The acquisition brings assets under management at CAPTRUST,...

Impax Asset Management to acquire Pax World

September 18, 2017

Impax Asset Management Group of the U.K. is acquiring Pax World Management, the investment adviser to Pax World Funds, creating a global firm specializing in sustainable investing. Under the terms of the deal, Impax will acquire Pax for $52.5...

Focus Financial adds $1.5B Eton Advisors to its stable

September 12, 2017

Eton Advisors, a $1.5 billion Chapel Hill, N.C.-based advisory firm, announced Tuesday that it has joined Focus Financial Partners. The deal puts 2017 ahead of the pace of 2016, in terms of industrywide transactions involving firms with more...

Mercer acquires RIA with $290 million in AUM

September 8, 2017

Mercer Advisors Inc., a national RIA firm based in Santa Barbara, Calif., has acquired Ray Mignone Associates, a financial planning firm managing $290 million of assets. Joining Mercer will be financial planner Ray Mignone, founder of the firm,...

For small B-Ds, becoming part of a branch office of a larger firm is a viable exit strategy

August 25, 2017

LPL Financial's acquisition this month of the National Planning Holdings Inc. network of four broker-dealers with 3,200 reps and advisers certainly has the independent broker-dealer industry abuzz, but transactions involving smaller broker-dealers...

CAPTRUST acquires $19B RIA in its sixth deal this year

August 22, 2017

CAPTRUST, one of the nation's largest diversified investment advisory firms, has completed its sixth acquisition of the year by folding in Tampa-based CapTrust Advisors, a $19 billion firm. The deal brings Raleigh, N.C.-based CAPTRUST to $243...

Is LPL's deal sweet enough for NPH's 3,200 reps and advisers?

August 16, 2017

LPL Financial's deal to acquire the National Planning Holdings Inc. broker-dealer network was embraced by Wall Street on Wednesday, but the 3,200 NPH registered reps and advisers who manage $120 billion in client assets must evaluate the deal...

Mercer Advisors acquires Blue Moon Wealth Advisory

August 16, 2017

Mercer Advisors, a Santa Barbara, Calif.-based RIA managing about $11 billion in assets, has acquired Blue Moon Wealth Advisory, a Bellevue, Wash., financial planning and investment management firm managing assets of $90 million. Blue Moon was...

LPL Financial buys NPH, a broker-dealer network with 3,200 advisers

August 15, 2017

After weeks of speculation, LPL Financial said on Tuesday it had completed the purchase of National Planning Holdings Inc., an independent broker-dealer network with 3,200 advisers. The deal is structured as an asset purchase with an initial...

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