Results for "mergers & acquisitions"

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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...

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...

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,...

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.​...

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...

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...

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...

Insurers are selling off old annuity business — what advisers need to know

May 23, 2018

Insurance companies have been selling old blocks of annuity business at a rapid clip, and it's likely the quick pace of transactions will continue at least through this year and possibly beyond. This could ultimately be bad news for policyholders...

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...

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...

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...

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...

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,...

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...

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