Results for "mergers & acquisitions"

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Allianz dumps its IBD

October 11, 2018

Another life insurance company is dumping its independent broker-dealer, with Allianz Life Insurance Co. of North America saying on Thursday it was leaving the retail broker-dealer and RIA businesses. Advisers with Allianz's Questar Capital...

Investment firm co-founded by Al Gore involved in $2.2M fintech deal

October 9, 2018

Al Gore's Generation Investment Management and Canadian pension fund Caisse de Depot et Placement du Quebec teamed up to acquire control of wealth-management services provider FNZ in one of the year's largest fintech deals. The acquisition of...

9 predictions for financial advisers for 2019

October 9, 2018

As we roll into the final quarter of the year, David Canter, head of the RIA segment at Fidelity Clearing & Custody Solutions, has been speculating on what financial advisers might expect in 2019. From the future of mega advisory firms to technology...

JB Investment Management joins RMB Capital

October 3, 2018

JB Investment Management has merged with RMB Capital of Chicago. JB Investment Management, which has $550 million in client assets and focuses on fixed-income strategies, will continue to operate out of its Brookfield, Wisc., office, but the...

Stifel subsidiary acquires $1.3 billion San Francisco-based RIA

October 2, 2018

1919 Investment Counsel, a subsidiary of Stifel Financial Corp., has acquired San Francisco-based independent registered investment adviser Rand & Associates, which manages approximately $1.3 billion in client assets. "The Rand acquisition gives...

Focus Financial acquires TAMP for $235 million

September 28, 2018

Focus Financial Partners Inc. is acquiring Loring Ward Holdings for $235 million in cash and stock, in a bid to scale its outsourced services for independent advisers. Loring Ward, which offers a turnkey asset management program, manages $17...

Private Ocean grows to $2.2 billion with acquisition of Mosaic Financial

September 24, 2018

Private Ocean is continuing its expansion in the San Francisco area with the acquisition of Mosaic Financial Partners. The addition of the $620 million advisory firm gives Private Ocean a presence in San Francisco and the North Bay and East...

Western & Southern buys Gerber Life Insurance in $1.55 billion deal

September 18, 2018

Western & Southern Financial Group has bought Gerber Life Insurance Co., a subsidiary of Nestlé, in a deal valued at $1.55 billion. Gerber Life, a direct-to-consumer life insurer, has $52 billion of life insurance in force and covers 3.6 million...

Captrust, prominent 401(k) advice firm, ramps up its wealth management business

September 17, 2018

Captrust Financial Advisors is a powerhouse in the realm of retirement plan advisers. However, the firm, which has $278 billion in client assets under advisement, is shifting to retail rather than institutional clients to drive its next phase...

Better together? Why not all advisory teams are meant to go independent

September 17, 2018

For advisers who yearn for independence, going independent on their own can seem like the perfect solution. Advisers are attracted by the flexibility of the registered investment adviser model and the ability to serve their clients in a conflict-free...

Larry Roth links consulting firm with Berkshire Global Advisors

September 12, 2018

Larry Roth, the former CEO of Cetera Financial Group and AIG Advisor Group who is now an industry consultant, has formed an alliance with middle-market investment bank Berkshire Global Advisors to help facilitate acquisition activity within...

Captrust adds $427 million hybrid RIA

September 10, 2018

Captrust Financial Advisors has acquired Morton Wealth Management, a Greensboro, N.C.-based hybrid registered investment adviser with $427 million in client assets. Terms of the deal were not disclosed. Captrust added three advisers to its ranks...

Fleming's Rockefeller Capital may buy into Silicon Valley wealth firm

September 7, 2018

Rockefeller Capital Management is in talks to buy at least part of a Silicon Valley-based wealth adviser from Bank of Montreal as it targets one of the fastest growing sources of affluence in the U.S. The investment firm led by former Morgan...

Focus Financial sees 500 more RIAs as potential acquisitions

August 29, 2018

Fresh from raising $565 million through its July stock sale, Focus Financial Partners sees a marketplace of independent financial advisory firms that is ripe for the pickings. During the company's first earnings call Wednesday since going public...

Mercer Advisors beefs up M&A team to target RIAs

August 22, 2018

Mercer Advisors, which over the past two years has acquired 13 advisory firms with more than $4.2 billion in assets, is doubling down on its acquisition campaign with a string of recent hires to build out its merger and acquisition team. "The...

Acquisition of Cetera being financed through $1 billion junk bond sale

August 21, 2018

Genstar Capital plans to finance the majority of its acquisition of Cetera Financial Group through the sale of $1 billion worth of junk bonds. According to a source close to investment bankers who did not want to be identified, the total price...

Sequoia Financial nears $5 billion in assets with acquisition of LJPR Financial Advisors

August 21, 2018

Sequoia Financial Group has taken another step toward the heavyweight ranks of advisory firms with the acquisition of LJPR Financial Advisors. The addition of Troy, Mich.,-based LJPR, a $776 million firm, pushes Akron, Ohio-based Sequoia to...

Merrill team managing $235 million goes indie with Raymond James

August 20, 2018

A three-adviser team managing $235 million at Merrill Lynch in the Toledo, Ohio, area have created Patton Wealth Management and affiliated the firm with the independent unit of Raymond James. The firm, headed by David Patton, Miles O'Mailia...

Cambridge Investment Research bags mid-sized broker-dealer

August 20, 2018

The consolidation of the brokerage industry continues, and in the latest deal Cambridge Investment Research Inc., one of the largest independent contractor firms, said on Monday it had acquired Broker Dealer Financial Services Corp., a mid-sized...

Bonhill Group completes acquisition of InvestmentNews

August 17, 2018

Bonhill Group Plc has completed its roughly $27.1 million acquisition of InvestmentNews. London-based Bonhill, formerly known as Vitesse Media Plc, announced its intention to acquire InvestmentNews from Crain Communications Inc. on July 31....

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