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...

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...

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,...

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...

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...

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...

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...

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...

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...

Top independent broker-dealers ranked by revenue

April 21, 2018

Firm 2017 % revenue ($M) % change vs. 2016 2017 commission revenue ($M) % change vs. 2016 2017 fee revenue ($M) % change vs. 2016 2017 other revenue ($M) % change vs. 2016 1 LPL Financial $4,281.50 5.70% $1,670.80 -3.80% $1,409.20 9.30% $1,201.40...

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...

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...

Cadaret Grant acquired by private-equity-backed Atria

April 19, 2018

In a move the market has been anticipating for years, the owner of independent broker-dealer Cadaret Grant & Co. has agreed to a sale. Arthur Grant, president, chief executive and majority owner of the 33-year-old IBD with $23 billion under...

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...

E*Trade puts its stamp on the RIA custodian space

April 9, 2018

E*Trade's $275 million acquisition of Trust Company of America, which was completed Monday, is expected to send the second-tier custodian into growth mode thanks to beefed-up resources, technology and marketing muscle. The first step in that...

Adviser's Consultant: Luring breakaway brokers to a hybrid RIA

March 30, 2018

Alex Goss understands the benefits of economies of scale in the financial planning business. By preaching that message to breakaway brokerage reps, he has grown his business to well beyond $3 billion in assets less than four years after his...

TD Ameritrade has cut more than 1,100 Scottrade jobs

March 23, 2018

As TD Ameritrade Holding Corp. continues to absorb its $4 billion acquisition of Scottrade Financial Services, layoffs have now exceeded 1,100 in the St. Louis area where Scottrade is based, according to published reports. A TD Ameritrade spokesman...

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