Results for "mergers & acquisitions"

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Focus Financial inks record RIA deal with SCS Financial

May 15, 2017

In its largest deal yet, RIA consolidator Focus Financial Partners has acquired a majority stake in the revenue stream of Boston-based SCS Financial, a $16.5 billion financial planning firm. The deal, which is Focus' 10th so far this year, represents...

Private equity adds fuel to 401(k) record-keeper consolidation

May 11, 2017

Just as 401(k) record keepers cry poverty, claiming there are no profit margins left and fueling consolidation, private equity has jumped in, perhaps seeing value that traditional record keepers are missing. What's causing this consolidation...

National Planning loses $420 million indie to FSC

May 11, 2017

Financial Independence, an independent advisory firm managing $420 million in assets, has changed its affiliation from National Planning Corp. to the FSC Securities subsidiary of the Advisor Group, Inc. The advisory firm, which is based in Bloomfield...

Bronfman acquisitions to push firm to $5 billion

May 10, 2017

Bronfman E.L. Rothschild has added more than $500 million in client assets so far this year through three separate deals that will push the Maryland-based advisory firm to about $5 billion in total assets. In the largest acquisition, expected...

RIA consolidation hits new high in first quarter

May 9, 2017

The registered investment adviser space rolled into 2017 by consolidating at a record clip, according to the latest report from DeVoe & Co. The first quarter report, released Tuesday morning, counts a record 44 deals during the first three months...

Western International to acquire retail assets of Financial West as Kovack Securities picks up TKG Financial

May 9, 2017

As expected, broker-dealer mergers and acquisitions are beginning to heat up, with small to mid-sized independent broker-dealers being gobbled up by larger copmpanies. Western International Securities Inc. will acquire close to 200 retail brokers...

3 missteps that could stunt financial advisers' growth

May 1, 2017

Growth ambitions can easily cloud smart judgment calls. Sometimes advisers forget to look before they leap when they want to land a new deal or venture. And what happens next can result in wasted expenditures, hidden costs and ineffective results....

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...

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...

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...

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...

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...

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...

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