Results for "mergers & acquisitions"

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Echelon: RIA M&A slowdown not due to fewer breakaway advisers

November 15, 2017

A new report from Echelon Partners confirms that merger and acquisition activity among independent advisory firms was slower in the third quarter of 2017, but doesn't attribute the dip to a decrease in the number of reps leaving brokerage firms....

RIA valuations too specific to base on other sales

November 15, 2017

Financial advisers looking to catch a ride on the consolidation wave by putting their firm up for sale should be open to the reality that valuations are often more art than science. "Stay out of the valuation trap by worrying less about what...

LPL says it's on track to recruit 70% of National Planning Holdings revenue

November 8, 2017

A number of large teams in the National Planning Holdings adviser network have moved to rivals, but LPL Financial assured investors that in the initial phase of moving advisers from two of NPH's broker-dealers, it is on track to transfer 70%...

Breakaway broker deals a drag on M&A activity in third quarter

November 7, 2017

A recent slowdown in the pace of reps leaving brokerage firms is seen as largely responsible for the sudden dip in merger and acquisition activity in the advisory space, according to the latest report from DeVoe & Co. The question now, is whether...

Stifel to acquire $4.8 billion Ziegler Wealth Management

October 30, 2017

Stifel Financial Corp. has agreed to acquire Ziegler Wealth Management, the retail business of B.C. Ziegler & Company. Terms of the transaction were not disclosed and it is expected to close in the first quarter of 2018. Chicago-based Ziegler...

Blaming the DOL fiduciary rule, LPL sees recruiting stall for second straight quarter

October 26, 2017

For the second consecutive quarter, recruiting stalled at LPL Financial, typically an industry powerhouse when it comes to hiring new advisers. In its third-quarter earnings release issued Thursday, parent company LPL Financial Holdings Inc....

RMB Capital to acquire Jacobus Wealth Management

October 26, 2017

RMB Capital, a Chicago-based RIA managing $8.4 billion, is acquiring Jacobus Wealth Management, a Milwaukee, Wisc.-based registered investment adviser that manages $860 million. The acquisition, terms of which were not disclosed, is scheduled...

Private equity firm Thomas H. Lee Partners buys stake in HighTower

October 25, 2017

This story has been updated with comments from industry consultants and additional quotes from Elliot Weissbluth. HighTower has announced plans to sell a "significant stake" of its sprawling advisory business to private-equity investor Thomas...

E*Trade gains a foothold in the RIA space, but it is going up against bigger competitors

October 20, 2017

E*Trade Financial Corp.'s acquisition of Trust Company of America is seen as a solid endorsement of the strength and profitability of the financial advisory business. The $275 million deal to buy the $17 billion-asset Denver-based custodian,...

7 trends of latest RIA mergers

October 19, 2017

A nine-year bull market has driven up assets under management and fueled a feeding frenzy for firms looking to buy a piece of the RIA space. Click through to see where records are being set and which players are gaining ground. Source: 3Q17...

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....

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...

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...

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...

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...

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...

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