Results for "mergers & acquisitions"

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Bonhill Group completes acquisition of InvestmentNews

August 17, 2018

Bonhill Group Plc has completed its roughly $27.1 million acquisition of InvestmentNews. London-based Bonhill, formerly known as Vitesse Media Plc, announced its intention to acquire InvestmentNews from Crain Communications Inc. on July 31....

AssetMark to add $5.7 billion in AUM with acquisition

August 13, 2018

AssetMark Inc., a Concord, Calif.-based turnkey asset management program for advisers, has agreed to acquire Global Financial Private Capital, a Sarasota, Fla.-based firm that has $5.7 billion in combined assets under managment on its platforms....

Ladenburg platform to help IBDs with succession planning, acquisitions

August 16, 2018

Ladenburg Thalmann Financial Services has a new suite of services and digital tools to help advisers across its subsidiary broker-dealers with succession, continuity and acquisition planning. The platform is part of an ongoing effort by the...

MassMutual is considering sale of OppenheimerFunds division

August 10, 2018

Massachusetts Mutual Life Insurance Co. is weighing a sale of asset manager OppenheimerFunds Inc., which could fetch at least $5 billion, according to people familiar with the matter. The insurer is working with advisers to evaluate a sale,...

Vitesse Media to buy InvestmentNews in $27.1M deal

July 31, 2018

InvestmentNews, the leading source of news, analysis and information to the financial advisory community, is being purchased by London-based Vitesse Media plc. Vitesse, which is publicly traded on the London Stock Exchange's AIM market, has...

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...

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...

Focus Financial adds $3.5 billion Edge Capital Group to its stable

August 2, 2018

In the weeks leading up to its closely watched initial public stock offering, Focus Financial Partners was also busy acquiring the $3.5 billion advisory firm Edge Capital Group. Atlanta-based Edge Capital Group, which operated as Edge Advisors...

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...

Captrust adds $1 billion RIA in Virginia

July 23, 2018

Captrust Financial Advisors has acquired Catawba Capital Management, a Roanoke, Va.-based RIA managing more than $1 billion in assets. Founded in 1992 and led by partners Terence Crowgey and R. Jay Irons, Catawba is a 10-person firm that serves...

Merger and acquisition activity drops dramatically in the second quarter

July 31, 2018

Merger and acquisition activity in registered investment adviser firms dropped dramatically during the second quarter, according to a report from DeVoe & Co. RIA transactions dropped to 32 in the second quarter from a record 49 in the first...

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

July 20, 2018

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

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...

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...

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...

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.​...

Wealth Enhancement Group adds $350 million planning firm in Florida

July 24, 2018

Wealth Enhancement Group, a Minneapolis, Minn.-based hybrid overseeing $8.9 billion in assets, has agreed to acquire Retirement Strategies Inc., a registered investment adviser and planning firm managing more than $350 million in assets and...

LPL, Lightyear Capital indicate interest in acquiring Cetera Financial Group

May 15, 2018

An earlier version of this story incorrectly stated that LPL Financial had missed the deadline for signing the confidential nondisclosure agreement. LPL Financial and Lightyear Capital, the owner of Advisor Group, are in the running to buy Cetera...

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...

Harnessing RIA M&A strategies for growth

May 10, 2018

With the RIA industry setting itself up for further consolidation based on the macro trends impacting the industry, the opportunity for peer-to-peer M&A activity is increasing dramatically. Multiple industry studies are anticipating record levels...

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