Results for "mergers & acquisitions"

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Kestra Financial latest broker-dealer to be put up for sale

December 14, 2018

Kestra Financial Inc. is the latest large independent broker-dealer to be put up for sale and is currently being shopped around by its private equity parent, according to industry sources. Kestra was formerly known as NFP Advisors when it was...

Mercer Advisors notches fifth RIA acquisition in four weeks

December 11, 2018

The shopping spree continues for Mercer Advisors with the acquisition of Bell Wealth Management, an Austin, Texas-based firm with $200 million under management. This marks the fifth announced acquisition in less than four weeks for Mercer, a...

Market volatility pushes more RIA owners to negotiating table

November 27, 2018

The choppy financial markets might be rattling investors, but for savvy owners of advisory firms the scenario is playing out perfectly because it's driving merger and acquisition activity. Those paying close attention are not surprised that...

Kovitz Investment Group acquires Northern Capital Management

November 26, 2018

Chicago-based registered investment adviser Kovitz Investment Group announced Monday it is acquiring Northern Capital Management, a Madison, Wisc. -based RIA with $544 million under management. The deal, which will close early next year, marks...

Emigrant Bank takes sole ownership of RIA consolidator Fiduciary Network

November 21, 2018

Emigrant Bank is now the sole owner of Fiduciary Network, a Dallas-based consolidator of registered investment advisers. The privately held, family-owned bank completed a deal to acquire the remaining 25% stake it did not already own in Fiduciary...

Fortress Biotech selling its majority stake in National Holdings

November 19, 2018

National Holdings Corp., home to about 700 independent registered reps and advisers, said Monday that B. Riley Financial is buying a 49% stake in the broker-dealer. B. Riley Financial, which owns a variety of financial services businesses, bought...

Brown Advisory acquires Signature Family Wealth Advisors

November 16, 2018

Brown Advisory has reached the $67 billion assets under management mark with the acquisition of Signature Family Wealth Advisors, a $4.3 billion family office advisory firm. The deal, which was not preannounced, was completed Thursday, one month...

Private equity eyes long-term care insurance

November 16, 2018

Private-equity investors are eyeing insurers' long-term-care business with increasing fervor, according to insurance executives and analysts, which could present problems for financial advisers whose clients hold affected policies. "A lot of...

HUB International in talks to buy Sheridan Road, a $14 billion hybrid retirement plan group

November 16, 2018

Sheridan Road Financial, an advisory firm overseeing about $14 billion in retirement plan assets, is in talks to be acquired by insurance brokerage Hub International, according to two sources with knowledge of the discussions. The deal hasn't...

Mercer Advisors bags its third RIA this month

November 15, 2018

Mercer Advisors will increase its total assets under management to $14.5 billion with its latest acquisition, of Financial & Investment Management Group. FIM Group, which manages $600 million with offices in Michigan and Wisconsin, marks the...

Mariner Wealth Advisors acquires $2 billion Patriot Wealth Management

November 13, 2018

Mariner Wealth Advisors has acquired $2 billion Patriot Wealth Management. The acquisition, which will become effective at the start of 2019, is Mariner's most recent development in its growth strategy and its first venture into Houston. Mariner...

Focus Financial Partners not afraid of market volatility

November 13, 2018

Stock market volatility is a plus for the Focus Financial Partners (FOCS) business model, according to chairman and CEO Rudy Adolf. "Volatility is actually a good thing because it shows the value of prudent financial advice," Mr. Adolf said...

Mercer Advisors moves toward $14 billion AUM with Sigma deal

November 12, 2018

The shopping spree continues at Mercer Advisors, which announced Monday its second acquisition of the month, pushing the fast-growing acquirer to nearly $14 billion in assets under management. This week's deal involves Sigma Investment Management...

Transaction loans for independent advisers seeking a partial business sale

November 12, 2018

As the succession planning transaction market continues to accelerate, independent financial advisers who are nearing retirement and seek a partial liquidity event as part of their succession plan are realizing that prevailing wealth management...

USAA retreats from asset management business with $850 million sale to Victory Capital

November 8, 2018

After several years of celebrated efforts to expand the distribution of its investment products beyond its loyal membership base of veterans and active-duty military members, USAA has found a solution in selling the $69.2 billion asset management...

Citizens Financial acquires $7.5 billion Clarfeld Financial

November 6, 2018

Citizens Financial Group Inc. is expanding its wealth management business with the acquisition of Clarfeld Financial Advisors, a New York firm with approximately $7.5 billion in total client assets under management and administration. Robert...

Chief operating officers lift advisory firms to the next level

November 2, 2018

If you're not sure whether your advisory firm is ready to hire a chief operating officer, it probably is. While COOs are often dismissed as simply an added expense, adding one can be a key ingredient in helping a firm grow to the next level,...

David Bach and Ric Edelman lock horns in cease-and-desist tit-for-tat

October 31, 2018

With financial services industry consolidation hitting record levels, it's only logical that breakups will also become more common, and some breakups are messier than others. The latest example is the ongoing tit-for-tat between David Bach and...

UBS looks for asset management deals, joint ventures

October 30, 2018

UBS Group is weighing acquisitions and joint ventures for its asset management business to help it compete with larger rivals, people with knowledge of the matter said. Targets may include U.K. and U.S. asset managers focused on retail clients...

Wealth Enhancement Group buys second Philly-area RIA in as many months

October 23, 2018

The buying spree continues at Wealth Enhancement Group as the $9.7 billion Minneapolis-based hybrid firm agreed to acquire its ninth independent advisory firm in the past five years. The most recent deal, announced Tuesday, involves GDM Advisory...

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