Results for "mergers & acquisitions"

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What RIAs should learn from Uber and Lyft

August 15, 2019

A recent New York Times article called Uber and Lyft two of "the largest and most anticipated … companies to have gone public this year," but in the same breath declared that "they were also the biggest flops," as "both were racking up huge...

Mercer Advisors acquires $300 million RIA

August 14, 2019

Mercer Global Advisors, a Denver, Colo.-based national registered investment adviser, has acquired Regent Wealth Management Group, an RIA firm managing $300 million based in Woodbridge, Conn. (More: Consider diversity when it comes to mergers...

Cetera Financial Group adds 1,000 advisers, $19 billion in assets so far in 2019

August 14, 2019

Cetera Financial Group is having a banner year in attracting new advisers to its platform, with recruits ranging in experience and production from sophisticated wealth managers to those relatively new to the financial advice industry. Cetera,...

Why we sold to Goldman Sachs

August 12, 2019

On July 16, the sale of United Capital to Goldman Sachs was consummated. One headline doesn't capture everything it took to reach that finish line: 14 years, 100 acquisitions, four capital raises, more than 700 employees hired and over $100...

Stifel to acquire assets of Kansas City-based B-D

August 12, 2019

Stifel Financial Corp. has agreed to acquire certain assets of George K. Baum & Company, a Kansas City, Mo.-based broker-dealer specializing in municipal securities. (More:​ Calif.-based RIA acquires firm managing $250 million) The transaction,...

Calif.-based RIA acquires firm managing $250 million

August 9, 2019

Allworth Financial, the Sacramento, Calif.-based registered investment adviser formerly known as Hanson McClain Advisors, has acquired Siena Wealth Management, a San Jose, Calif.-based firm managing $250 million. (More:​ Lightyear's Wealth...

Focus Financial reports strong M&A numbers

August 8, 2019

With more than four months remaining in the year, Focus Financial Partners Inc. said Thursday that it had already exceeded the number of RIA transactions this year than it recorded in all of 2018. In announcing its quarterly earnings, Focus...

Succession planning where the adviser keeps working?

August 6, 2019

We financial advisers are not a young group. In fact, with an average age of 49, we're part of one of the oldest workforces of any profession. With so many principals nearing retirement, more's being written about succession planning: Simply,...

CFRA bulks up ETF research with acquisition of First Bridge

August 5, 2019

Investment research firm CFRA has acquired First Bridge Data in a move that will give CFRA access to global ETF data and analytics that until now it has been getting from third-party providers. For financial advisers, the addition of First Bridge...

Lightyear sells Wealth Enhancement Group to TA Associates

July 31, 2019

Minneapolis-based Wealth Enhancement Group has extended its relationship with private-equity investors through a deal that will transfer a majority ownership stake in the $11.8 billion advisory firm to TA Associates. The deal, announced Wednesday,...

Flood of RIA sales pushes industry toward a buyer's market

July 31, 2019

The record-setting pace of consolidation among advisory firms is only going to become more competitive, said David DeVoe, managing director at the investment bank DeVoe & Co. The first-half data released Wednesday by DeVoe & Co. show 65 acquisitions...

Acquisition consolidates players in retirement record keeping

July 31, 2019

PCS Retirement, a Philadelphia, Pa.-based retirement record keeper, has acquired Aspire Financial Services, a record keeper based in Tampa, Fla. Terms of the acquisition were not disclosed. (More:​ Reducing the number of 401(k) record keeper...

New twist on private equity in RIA space: Silent minority ownership

July 29, 2019

Kudu Investment Management acquired a minority stake in First Long Island Investors in a deal that highlights a new twist on private-equity capital finding its way into the advisory space. The stake in the $1.6 billion RIA marks Kudu's seventh...

Charles Schwab inks deal to buy USAA brokerage business for $1.8 billion

July 25, 2019

The Charles Schwab Corp. said it had agreed to buy the asset's of USAA's investment management company, including brokerage and managed portfolio accounts for $1.8 billion in cash, the firm announced Thursday. According to a statement by Schwab,...

RIA to buy $300 million fixed-income business

July 25, 2019

Lido Advisors, a Los Angeles-based registered investment adviser, will acquire the Los Angeles-based fixed income portfolio management team from Denver-based First Western Financial as well as over $300 million in assets currently held through...

Lightyear's Wealth Enhancement Group acquires $1 billion RIA

July 18, 2019

Lightyear Capital's Wealth Enhancement Group, a Minneapolis, Minn.-based hybrid firm that has been an active acquirer of RIA firms, will acquire AEPG Wealth Strategies, a registered investment adviser managing $1 million in Warren, N.J. AEPG...

Advisers shrug off Schwab's potential purchase of USAA brokerage

July 17, 2019

Charles Schwab Corp.'s rumored plan to acquire $100 billion worth of brokerage assets from USAA is perceived by market watchers as a prudent asset-gathering move, despite past missteps by the San Francisco-based brokerage giant. "Schwab will...

Charles Schwab reportedly in talks to buy USAA brokerage, wealth management business

July 15, 2019

Charles Schwab Corp. is in talks with USAA to buy the insurer's wealth management and brokerage business for roughly $2 billion, according to the Wall Street Journal. The transaction, which may occur by the end of the month, would net Schwab...

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...

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