Lockton Affinity, an Overland Park, Kansas-based insurance broker to affinity groups, has acquired Freedom Partners, an Orange County, California-based back-office service provider for financial advisory firms.
Lockton said the acquisition represents a move to expand its footprint in the financial services business.
Terms of the acquisition were not disclosed.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.
Deal marks firm's 11th acquisition, pushes AUM above $11 billion as Seascape's Portsmouth team joins the RIA.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
