AMG Wealth acquires $6 billion RIA

AMG Wealth acquires $6 billion RIA
AMG Wealth, which has been making investments in advisory firms in recent years, kicked off 2015 with a bang: taking a majority stake in San Francisco-based Baker Street Advisors.
JAN 22, 2015

AMG Wealth Advisors, a subsidiary of Affiliated Managers Group, which has been making investments in advisory firms in recent years, has kicked off 2015 with a sizable deal in the RIA space. The firm announced on Tuesday that it was taking a majority stake in Baker Street Advisors, a San Francisco-based investment adviser that had $5.2 billion in assets under management, according to SEC filings from last year. It now has $6 billion in assets under administration, according to a press release. (More: $1B firm merges under consolidation pressures)​ As part of the deal, Baker Street's partners will still retain a “substantial” portion of their equity and direct the day-to-day operations. Additional details of the transaction were not disclosed. Baker Street was founded in 2003 by Jeff Colin and has around 31 staff members, according to SEC filings. Last year, it was ranked 27th on InvesmentNews' list of top fee-only RIAs by assets under management. (More: Mariner picks up $1 billion RIA) Affiliated Managers Group, AMG's parent company, invests in various investment firms. Its affiliates have around $626 billion in assets under management. In 2012, AMG made its first big acquisition in the wealth management space when it took an equity stake in Veritable, a Newton Square Pa.-based firm with $10 billion in AUM. Where is the RIA industry heading?

Latest News

Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says
Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says

Counting advisor moves in and out of firms requires some art as well as science.

Carson Group's M&A head sees '10-to-15 year bull market' for RIAs
Carson Group's M&A head sees '10-to-15 year bull market' for RIAs

“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.

Nationwide finds Medicare myth on long-term care could cost Americans dearly
Nationwide finds Medicare myth on long-term care could cost Americans dearly

As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.

Fintech bytes: Orion, Altruist unveil new RIA-focused integrations
Fintech bytes: Orion, Altruist unveil new RIA-focused integrations

Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.

Raymond James reels in advisors managing $1B+ in Colorado
Raymond James reels in advisors managing $1B+ in Colorado

The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.

SPONSORED RILAs bring stability, growth during volatile markets

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.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave