Simon Quick Advisors, a Morristown, New Jersey-based registered investment adviser, has acquired Red Hook Management, an RIA managing $420 million that is also based in Morristown.
Red Hook has three advisers, who are joining Simon Quick; the combined entity will have 68 employees and manage approximately $5 billion.
The driver for the deal was the requirements of running a fiduciary wealth management firm. Mark DeLotto, a Simon Quick managing partner, noted in a statement that his firm can deliver "a platform for organic growth" while providing solutions for firms' "technological, operational and succession issues.”
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to Devoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
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.
