Results for "mergers & acquisitions"

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Carson Group takes equity stake in $1.1 billion Pinnacle Advisory Group

July 20, 2018

Carson Group announced Friday that it has brought $1.1 billion Pinnacle Advisory Group into the fold through an equity partnership option program introduced earlier this year. Michael David, founder and chief executive of Amarillo, Texas,-based...

No 'stay bonuses' for Cetera Financial Group reps

July 19, 2018

Cetera Financial Group has no plans to give extra pay to its 8,000 brokers and financial adviser in the form of "stay bonuses" after the company said on Tuesday it had sold a majority stake to Genstar Capital, a private equity firm. Stay bonuses...

Cetera Financial Group brokers taking wait-and-see attitude on sale

July 19, 2018

Cetera Financial Group's 8,000 brokers are taking a wait-and-see attitude in reaction to news that their company has been sold yet again, this time to a private equity firm that could very well put it up for sale down the road. One big question...

Fiduciary Network posts a 'for sale' sign

July 19, 2018

Fiduciary Network, a Dallas-based consolidator of advisory firms, has become the latest organization in the space to test its value on the open market. A report this week by Financial Planning confirmed what had been rumored for months: The...

Genstar Capital buys majority stake in Cetera Financial Group

July 17, 2018

Cetera Financial Group, a network of six independent broker-dealers with about 8,000 brokers and advisers, said Tuesday evening that private-equity firm Genstar Capital will buy a majority equity stake in the company. Cetera's holding company,...

Cetera Financial Group close to announcing its acquisition by private equity

July 17, 2018

Cetera Financial Group is close to announcing that it will be acquired by a private equity buyer or group of buyers, according to industry sources, with the company potentially revealing the details as early as 5 p.m. today. The buyers and price...

Record 48 RIA mergers and acquisitions took place in Q2

July 17, 2018

A record 48 mergers and acquisitions took place among registered investment advisory firms in the second quarter, according to Echelon Partners. This was only the second time in five years that second-quarter M&A activity topped the usually...

With Signator in the bag, will Advisor Group and Lightyear still chase Cetera?

June 27, 2018

Last week's announcement that John Hancock Financial Services was selling independent broker-dealer Signator Investors Inc., with 1,800 advisers and about $50 billion in assets, to Advisor Group did not come as much of a surprise. Industry rumors...

Wells Fargo team managing $150 million moves to Snowden Lane

June 22, 2018

A seven-person team managing $150 million at Wells Fargo in San Antonio, Texas, has formed a hybrid firm and affiliated with New York-based Snowden Lane Partners. Led by Mark Hogan, Leah Eller, Pam Appleby and Josh Hogan, the Hogan Eller Wealth...

Guggenheim said to consider sale of asset management unit

June 21, 2018

Guggenheim Partners is exploring the sale of a stake in its $250 billion asset-management unit overseen by Scott Minerd, according to people familiar with the matter. Guggenheim Partners Investment Management has been in talks with global insurers,...

Advisor Group acquires Signator Investors and plans on folding it into Royal Alliance

June 21, 2018

Advisor Group will acquire Signator Investors, a dually registered broker-dealer and investment adviser with more than 1,800 advisers overseeing approximately $50 billion in assets. Advisor Group said it plans on rolling Signator, which is owned...

Wealth Enhancement Group acquires Cimino Wealth Advisors

June 13, 2018

Wealth Enhancement Group, an independent hybrid firm managing $8.4 billion in assets, has acquired Cimino Wealth Advisors, a hybrid managing $494.5 million in client assets in Clinton, Wisc. Terms of the acquisition were not announced. Wealth...

Selling your advisory firm internally could mean taking a valuation hit

June 7, 2018

Advisory firm owners who are considering selling their firm internally in a succession-plan transaction rather than to outside buyers might be taking a valuation hit, according to Daniel Seivert, chief executive of investment bank Echelon Partners.​...

Private equity money altering the wealth management ecosystem

June 6, 2018

The influence of private equity investments on the financial advice industry is creating a full-blown "ecosystem" that will impact even smaller-sized registered investment advisers, according to the latest research from Fidelity Clearing & Custody...

Why 401(k) advisers should heed TPA consolidation

June 6, 2018

Third-party administrators have been in the spotlight following a string of recent acquisitions, and retirement plan advisers should take note. TPAs, which provide administrative services to defined-contribution plans, have been getting more...

Neil Hennessy: Active managers can grow their assets with acquisitions

June 5, 2018

Neil Hennessy is founder and chief investment officer of Hennessey Advisors Inc., a $6.6 billion publicly traded investment management company that offers 14 mutual funds to the public. Mr. Hennessy, who started his career as a PaineWebber broker...

EP Wealth Advisors buys $400 million Donnelly Wealth Advisors

June 4, 2018

EP Wealth Advisors, an RIA firm now managing $3.6 billion in assets and headquartered in Torrance, Calif., has acquired Donnelly Wealth Advisors of San Diego, which manages $400 million. (More: RIA mergers and acquisitions set another record...

Principal Financial acquires digital advice startup RobustWealth

May 30, 2018

Principal Financial Group is acquiring financial technology startup RobustWealth to improve its own technology offering and expand distribution capabilities among the banking, broker-dealer and registered investment adviser channels. Principal...

Former Barclays wealth management executive wins $2.7 million arb award from former firm

May 23, 2018

A former top executive at Barclays Capital Inc. won a $2.7 million Finra arbitration award, stemming from a dispute over compensation he claimed Barclays owed him when it sold its wealth management group to Stifel Financial Corp. in 2015. Now...

RIA in a Box acquired by private equity firm Aquiline Capital

May 23, 2018

Software service provider RIA in a Box has been acquired by the private equity firm Aquiline Capital Partners. While the terms of the deal were not disclosed, this represents the latest in a growing trend of P-E investors adding exposure to...

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