Sammons Financial Group, a privately held insurer based in West Des Moines, Iowa, has acquired Beacon Capital Management, a Dayton, Ohio-based registered investment adviser and turnkey asset management program provider managing $3 billion in assets.
Sammons described the deal as a “strategic move to expand into the growing adviser marketplace.”
[More: TAMPs consolidate to compete]
The transaction is expected to close early in the second quarter.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Raymond James also lured another ex-Edward Jones advisor in South Carolina, while LPL welcomed a mother-and-son team from Edward Jones and Thrivent.
MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.
Wealth management unit sees inflows of $23 billion.
Deal will give US investment bank a foothold in lucrative European market.
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.
