Results for "mergers & acquisitions"

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Ameriprise buying bank broker-dealer, adding 200 registered representatives

April 24, 2017

Taking a page from competitors like LPL Financial and Cetera Financial Group, Ameriprise Financial Inc. said on Monday it had agreed to buy Investment Professionals Inc., an independent broker-dealer based in San Antonio, Texas, that focuses...

Raymond James to pay $172M for Scout Investments

April 20, 2017

Raymond James Financial Inc. has agreed to buy Scout Investments and its Reams Asset Management division from UMB Financial Corp. for $172.5 million in cash. Scout, an equity manager, and Reams, an institutional fixed-income specialist, will...

Asset Vantage acquires Financial Navigator

April 20, 2017

Asset Vantage Inc., a Santa Clara, Calif.,-based provider of cloud-based asset management, accounting and reporting systems, has acquired Financial Navigator Inc., a provider of accounting and portfolio-tracking software also based in Santa...

Focus Financial's latest private equity partnership puts IPO on back burner

April 19, 2017

Focus Financial Partners is extending its 11-year relationship with private equity investors, raising new questions about the likelihood of the RIA-roll-up going public anytime soon. An announced 70% ownership stake by PE firms Stone Point Capital...

Private equity firms take controlling interest in Focus Financial

April 19, 2017

An investor group led by private equity firms Stone Point Capital and KKR is acquiring a majority stake in Focus Financial Partners, valuing the RIA rollup firm at approximately $2 billion. Selling shareholders include Focus' current private...

Oranj buys majority share in rebalancing software firm Trade Warrior

April 18, 2017

Digital advice platform Oranj has bought a majority stake in Trade Warrior, a portfolio rebalancing software firm, making it the latest technology company to bulk up its capabilities for financial advisers who are hungry for operational efficiencies....

Dynasty Financial Partners adds $750 million RIA

April 17, 2017

Next Capital Management, a 13-person registered investment advisory firm in New York managing $750 million in assets, has joined Dynasty Financial Partners. The firm, which was founded in 1999, is led by Andrew Hart, who formerly oversaw a team...

HighTower CEO confirms it is buying WealthTrust, its biggest deal ever

April 13, 2017

HighTower CEO Elliot Weissbluth confirmed Thursday that his firm is buying WealthTrust, its largest acquisition ever. The addition of WealthTrust's $6.4 billion in client assets lifts HighTower's total client assets to nearly $46 billion, which...

HighTower in talks to acquire 10 WealthTrust RIAs

April 7, 2017

Chicago-based jumbo RIA HighTower could add an additional $6.4 billion in assets under management if a deal goes through to acquire most of WealthTrust, a Houston, Texas-based affiliation of RIA firms. According to a report in The Wall Street...

Captrust acquires Windsor Financial Group

April 4, 2017

Captrust Financial Advisors has acquired Windsor Financial Group, a 30-year-old RIA firm in Minneapolis that manages $515 million in client assets. The addition of Windsor brings assets under management at Captrust, based in Raleigh, N.C., to...

Financial Media Exchange buys AdviceIQ

March 24, 2017

Financial Media Exchange, a content library for financial firms, is acquiring the assets of AdviceIQ, a similar service for financial advisers. Terms of the deal, announced in a release from Plymouth, Mass.-based Financial Media Exchange, were...

National Holdings Corp. acquires independent broker-dealer WFG Investments

March 14, 2017

In the midst of a punishing business environment for small and mid-sized broker-dealers, National Holdings Corp. said on Monday it was acquiring select assets of Williams Financial Group of Dallas, including its independent broker-dealer, WFG...

Lebenthal sells major stake to South Street Securities

March 7, 2017

Lebenthal Holdings, the successor of the municipal bond firm founded in 1925, has sold a 49% stake in its Lebenthal & Co. unit as well as 100% of its ownership interests in Lebenthal Asset Management and Lebenthal Family Office to South Street...

Lebenthal family seeking to sell firm

March 6, 2017

The second end of Wall Street's Lebenthal saga may be written soon, according to a story in The Wall Street Journal. The Journal reports that Alexandra Lebenthal, granddaughter of the firm's founders, is nearing a deal to sell the former municipal...

Many acquisitions of DC record-keeping businesses lose luster over time

February 22, 2017

Companies that once swallowed up DC record keepers and other benefits businesses to diversify, expand and increase shareholder value are now regurgitating them to consolidate — again to increase shareholder value. The latest example is Aon...

3 questions independent broker-dealers should ask private equity product sponsors

February 13, 2017

Just two years ago, non-traded real estate investment trusts and business development companies were in favor among retail investors seeking increased opportunities for yield. Since then, a combination of increased regulatory complexity, negative...

Houston-area Lifestyle Financial Advisors merges with nearby adviser

February 8, 2017

Lifestyle Financial Advisors has merged the Laura A. Nagle independent advisory practice, bringing total assets under management to $510 million, according to a press release issued by First Allied Securities, the firm's broker-dealer. Lifestyle...

Lovell Minnick buys majority stake in Foreside Financial

February 8, 2017

Lovell Minnick Partners, a private-equity firm based in Radnor, Pa., has agreed to purchase a majority stake in the Portland, Maine-based financial consulting firm Foreside Financial Group. Foreside, which has about 140 employees, provides a...

3 non-traditional methods for acquiring a financial advisory practice or book of business

February 7, 2017

In the highly-competitive acquisition landscape for independent financial advice practices, successful buyers need an edge. Embracing non-traditional acquisition methods provides an essential set of tools that may make the difference between...

Banks, credit unions could start buying advisory practices

February 1, 2017

In September, when Salem Five Bank acquired Stumm Financial Services, it set in motion a financial advice model that could become a blueprint for other banks and credit unions, and also represents new distribution for platforms like LPL Financial....

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