Private-equity firm Genstar Capital has acquired the majority stake in Foreside Financial Group held by Lovell Minnick Partners. Terms of the acquisition, scheduled to close before the end of the quarter, were not disclosed.
Foreside, based in Portland, Maine, provides tech solutions in the areas of distribution and governance, risk management and compliance to clients in the asset and wealth management industries.
The company is led by Richard Berthy and David Whitaker, who will remain shareholders and continue in their current management roles, the company said in a release.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
