Results for "mergers & acquisitions"

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Cetera Financial Group eliminating Summit as a separate broker-dealer

July 12, 2019

One of Cetera Financial Group's six broker-dealers, Summit Brokerage Services Inc., is being absorbed into another of the firm's B-Ds. Summit has $17.5 billion in client assets. Its 450 advisers and its branch offices will continue to operate...

Hub in talks to buy $40 billion LPL branch Global Retirement Partners

July 11, 2019

Insurance brokerage Hub International is in talks to buy Global Retirement Partners, the largest retirement-focused branch of LPL Financial with $40.1 billion in assets, according to two sources with knowledge of the discussions. GRP, a registered...

EP Wealth acquires Pathlight Investors

July 10, 2019

EP Wealth Advisors, a Torrance, Calif.-based RIA managing approximately $4.4 billion in assets, has acquired Phoenix, Ariz.-based Pathlight Investors, which manages $283 million in assets. Pathlight, founded in 2009, is led by its co-founders,...

Piper Jaffray buying Sandler O'Neill for $485 million

July 9, 2019

Piper Jaffray Co. said Tuesday morning that it was buying Sandler O'Neill + Partners, a leading investment bank for the financial services industry, for $485 million in cash and stock. The combined firm will be named Piper Sandler Cos. The deal...

RIA acquisitions on record pace, despite sometimes volatile markets

July 8, 2019

The pace of consolidation in the registered investment advisory space hit a record in the second quarter and puts the industry on pace for its seventh-straight recording-setting year, according to consulting firm Echelon Partners. The 52 RIA...

MAI acquires insurance-oriented RIA

July 1, 2019

MAI Capital Management, a Cleveland-based RIA managing $5.4 billion, has acquired John D. Dovich & Associates, a Cincinnati-based RIA managing $600 million that specializes in insurance. The acquisition gives MAI a location in Cincinnati and...

Mercer acquires Jackson Financial and $510 million in assets

June 19, 2019

Mercer Global Advisors has acquired Jackson Financial Management, a Costa Mesa, Calif.-based RIA managing approximately $510 million in assets. (More: Consider diversity when it comes to mergers and acquisitions) The JFM acquisition brings Mercer's...

RIA takes a bigger piece of the pro athlete market

June 17, 2019

MAI Capital Management, a $6 billion Cleveland-based RIA, has expanded into its sixth market with the acquisition of MTX Wealth Management, a $400 million advisory firm in the Washington area. The firms share a specialty — working with current...

Goldman CFO eyes wealth management acquisitions in Europe

June 6, 2019

Goldman Sachs Group may seek to manage more of the fortunes of Europe's wealthy as the Wall Street brokerage looks to expand beyond the volatile returns of equity and bond trading. The company currently only has a "single-digit" share of the...

Advisor Group executives to hit the road this summer

June 5, 2019

Now that the sale of Advisor Group is in the bag, the management of the broker-dealer network will hit the road this summer, visiting to financial advisers in 20 cities to provide an update from CEO Jamie Price. Last month, Advisor Group said...

Lessons learned from 21 deals

June 3, 2019

While I didn't start out as a deal-maker in wealth management, I have found it to be a dynamic, fast-paced, exciting and fulfilling role in my nearly 20-year career as an executive at Mercer Advisors, currently a $15 billion independent registered...

Dynasty Financial boosts M&A tools for RIAs using its platform

May 30, 2019

Dynasty Financial Partners said Thursday that it is amplifying its support for registered investment advisers who use Dynasty's platform so they can better compete in the hot RIA mergers and acquisitions market. The new business line and suite...

Bob Oros opens up about HighTower's aggressive growth strategy

May 29, 2019

After Goldman Sachs' agreement this month to purchase United Capital for $750 million, "good vibrations" are spreading across the registered investment adviser industry. And why not? Since summer is almost here, it would be appropriate to cite...

Selling your firm, even if you've never thought about it

May 29, 2019

Even if you've never thought about selling your financial planning firm or practice before, now's the time to familiarize yourself with the landscape. Just look at what's going on in our industry: Goldman Sachs is buying United Capital. Ric...

Sometimes a sale is the best succession plan

May 28, 2019

When Kara Duckworth and her father Michael Duckworth began looking for ways to transition ownership of the advisory firm they launched in 1998, selling the business was not what they had in mind. "We were originally going to do an internal succession...

LPL expanding platform to include employee brokers

May 22, 2019

LPL Financial, which has grown into one of the largest brokerage firms in the country by hiring advisers who act as independent contractors, is creating a new model which would employ brokers working directly for the firm. In a presentation...

Dakota Wealth Management to acquire Springside Partners

May 21, 2019

Dakota Wealth Management, a Palm Beach Gardens, Fla.-based RIA managing $1 billion in assets, has agreed to acquire Springside Partners, a female-founded and operated registered investment adviser in Akron, Ohio, managing about $258 million...

Goldman Sachs acquires United Capital

May 16, 2019

Goldman Sachs' acquisition of United Capital for $750 million in cash will give the storied New York investment bank an opportunity to reach more high net worth clients, namely those with $1 million to $15 million in assets. Currently, Goldman...

Private equity loves IBDs, but will that last?

May 14, 2019

A few years ago, the independent broker-dealer industry was supposed to be in its death throes. Margins were in sharp decline. Costs from technology and regulation, in particular the Department of Labor's dreaded fiduciary rule, were eroding...

Goldman Sachs said to be near deal to buy United Capital

May 10, 2019

The Goldman Sachs Group Inc. is close to buying United Capital Financial Partners Inc., a leading roll up and aggregator of registered investment advisers, according to a report in the Wall Street Journal on Friday and InvestmentNews sources....

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