Results for "mergers & acquisitions"

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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...

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...

Merger of CFO4Life and Vogel creates $1.2 billion firm

May 7, 2018

Vogel Financial Advisors, a hybrid wealth management firm managing $425 million in Richardson, Texas, has merged with CFO4Life, which manages $750 million in nearby Coppell, Texas, near Dallas. Mike Busch, the principal of Vogel, will join CFO4Life...

BlackRock bets on small-time investors with stake in Acorns

May 9, 2018

BlackRock Inc., already sitting on a mountain of assets, is turning its attention to a much smaller market — your pocket change. The $6.3 trillion money manager said it became an anchor investor in Acorns, an app that allows rookie investors...

China's HNA drops bid to buy Anthony Scaramucci's SkyBridge

May 1, 2018

HNA Group Co. and SkyBridge Capital have agreed to drop the Chinese conglomerate's plan to acquire the investment firm. Founder Anthony Scaramucci will return as a co-managing partner. The New York-based hedge fund and the aviation-to-real estate...

Adviser's Consultant: Building a flexible succession plan

May 11, 2018

Jack Hillis isn't quite ready to stop working with clients or give up his lifestyle advisory practice, but at 74 years old, he knew he needed a succession plan in place. His solution was to complete all the paperwork for a sale that will take...

3 insights on the Financial Engines-Edelman combination and how it might affect you

May 3, 2018

On Monday, Financial Engines announced that it was being taken private by the respected private equity firm Hellman & Friedman for $3 billion in cash, a 30% premium over the pre-announcement closing price. Financial Engines will merge with Edelman...

Financial Engines to be purchased for $3.02 billion, combined with Edelman

April 30, 2018

The $3.02 billion acquisition of Financial Engines announced Monday is likely to spur more interest on the part of private equity to bring together long-standing advice firms with robo advisers, experts said. The acquirer, private equity shop...

Funds that let investors tap into M&A fever

April 30, 2018

T-Mobile US Inc. plans to buy Sprint Corp. in a $26 billion deal that is just the most recent round of M&A activity in the U.S. this year. Why are so many companies feeling the urge to merge, and how can investors best take advantage of this...

Bill Kline out as head of Gallagher's $55 billion retirement-plan aggregator

May 9, 2018

Bill Kline, the head of Arthur J. Gallagher & Co.'s retirement plan consulting unit — which has more than 60 advisers overseeing $55 billion in defined-contribution-plan assets — has left amid a reorganization of his group. Mr. Kline, 53,...

Lightyear Capital's Donald Marron said to be in the hunt for Cetera Financial Group

March 22, 2018

Veteran brokerage executive Donald Marron is a serious contender to buy Cetera Financial Group, according to several sources familiar with the potential deal. Cetera, a network of six broker-dealers, is exploring a sale that could be worth about...

Three LPL affiliates, including Botsford Financial, create $2.6 billion OSJ

March 13, 2018

Three large LPL Financial affiliated practices have merged to create a $2.6 billion firm with an eye on future growth. Merit Financial Group of suburban Atlanta on Tuesday morning said it had bought and merged with Financial Development Systems...

RIA sellers might be rushing in ahead of market turmoil

April 23, 2018

The first quarter of 2018 saw a record level of consolidation activity in the financial advisory space, according to the latest report from DeVoe & Co. The 47 registered investment adviser transactions during the first three months of the year...

Things are looking up: IBDs soared in 2017

April 21, 2018

After a dismal 2016, the independent broker-dealer industry came back to life in 2017, with the top 25 IBDs collectively reporting $23.2 billion in revenue, a 13.1% annual increase, according to InvestmentNews research. InvestmentNews has been...

Woodbury latest firm to expand by adding bank brokers

April 10, 2018

Yet another broker-dealer is taking a stab at working with bank brokers, as Woodbury Financial Services on Tuesday said it had acquired $10 billion in brokerage and advisory assets from Capital One Financial Corp. The deal, terms of which were...

Woodbury acquires Capital One's $10 billion adviser business

April 10, 2018

Woodbury Financial Services, part of the Advisor Group, is buying Capital One Investing's $10 billion investment management and brokerage division. Capital One's advisers will join Woodbury's roster of affiliated independent advisers and get...

First quarter was a seller's market for RIAs

April 19, 2018

The pace of merger and acquisition activity in the wealth management space continues to chug along, driven by a combination of economic factors, according to the latest report from Echelon Partners. With 46 registered investment adviser deals...

Buckingham acquires WealthQuest

March 6, 2018

St. Louis-based Buckingham Strategic Wealth has acquired WealthQuest Financial Services of Norfolk, Va., a registered investment adviser managing approximately $600 million in assets. Last month, Buckingham, which manages or administers more...

Are LPL and Cetera Financial Group a potential match?

February 27, 2018

A securities analyst who covers LPL Financial Holdings Inc. wrote a note on Tuesday morning saying that it makes sense for LPL Financial to pursue an acquisition of Cetera Financial Group. "We believe the benefits of a Cetera acquisition are...

Cetera reportedly exploring $1.5 billion sale

February 23, 2018

Cetera Financial Group, a network of six broker-dealers, is exploring a sale that could be worth about $1.5 billion, according to a Bloomberg report. The company, which houses around 8,000 brokers and advisers, began interviewing potential advisers...

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