Results for "mergers & acquisitions"

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Blucora to buy another broker-dealer with tax-focused advisers

March 19, 2019

Tax preparation software company Blucora Inc. said on Tuesday it intends to continue to add to its wealth management and tax preparation business and will pay $180 million in stock for 1st Global Inc., an independent broker-dealer that focuses...

Captrust acquires two firms and $2.9 billion in AUM

March 19, 2019

Captrust Financial Advisors, a Raleigh, N.C.-based wealth management and retirement plan advisory firm, has acquired Watermark Asset Management of San Ramon, Calif., and Rogers Financial of Harrisonburg, Va. Watermark, a registered investment...

Janney acquires FIG Partners of Atlanta

March 19, 2019

Janney Montgomery Scott is acquiring FIG Partners, an Atlanta-based investment banking and research firm that specializes in community banks. The transaction is expected to close in the second quarter. (More:​ Team advising on $2 billion leaves...

5 building blocks to becoming a successful buyer

March 19, 2019

There are more than 12,000 SEC-registered investment advisers in the United States trying to differentiate and grow their businesses across the competitive and fragmented RIA space — a veritable Wild West of firms at the forefront of change....

Cresset Asset Management acquires $500 million RIA

March 19, 2019

Cresset Asset Management, a national registered investment advisory firm managing almost $4 billion from its headquarters in Chicago, has acquired Evanston Advisors, an Evanston, Ill.-based RIA managing $500 million in assets. (More:​ HighTower...

Principal-Wells Fargo retirement deal would be among largest ever

March 18, 2019

There would be a new behemoth among record keepers of defined-contribution plans if Principal Financial Group were to follow through on a reported deal to acquire Wells Fargo & Co.'s retirement-plan unit. The deal — which could fetch more...

Envestnet MoneyGuide deal will have a massive impact on the advice industry

March 15, 2019

Do you remember in 1998, when we got not one, but two movies about asteroids colliding with Earth? Both "Armageddon" and "Deep Impact" featured computer-generated scenes of space rocks hitting the planet, causing varying degrees of destruction....

Investment bank launches digital loan platform for advisers

March 14, 2019

An investment banking firm that specializes in the independent adviser market has launched a digital marketplace for banks that want to lend money to advisory firms. (More: Thinking about selling your firm? 5 ways to prepare) Wayzata, Minn.-based...

Envestnet acquires MoneyGuide for $500 million

March 14, 2019

Envestnet is acquiring PIEtech, the technology company behind the MoneyGuide financial planning software, for a reported $500 million. The deal consists of $295 million in cash and 3.185 million shares of Envestnet common stock. Envestnet CEO...

Brookfield buys Oaktree to build an alternatives giant

March 13, 2019

Brookfield Asset Management Inc. agreed to buy a majority stake in Oaktree Capital Group, a combination that would rival Blackstone Group as the world's largest alternative money manager. Brookfield will acquire a 62% stake in Oaktree in a cash...

Mercer Advisors acquires $240 million Confluence Financial Advisors

March 7, 2019

Mercer Global Advisors has acquired Confluence Financial Advisors, a Boulder, Colo.-based registered investment adviser managing approximately $240 million in assets. Confluence founding partners David Gardner and Judy McNary, and their five...

Creative Planning makes first acquisition, adding $500 million in AUM

February 26, 2019

Creative Planning Inc., an Overland Park, Kan.-based registered investment adviser managing $38 billion in assets, has acquired The Johnston Group, a Minneapolis-based RIA firm managing $500 million with offices in Minnesota and the Dakotas....

Warburg Pincus to buy majority stake in Kestra Financial

February 25, 2019

Kestra Financial Inc. has agreed to sell a majority stake in the firm to private-equity shop Warburg Pincus, the independent broker-dealer announced Monday morning. Stone Point Capital, the private-equity firm that currently holds a majority...

Focus Financial rides RIA consolidation to 37 percent annual revenue growth

February 21, 2019

Seven months after taking Focus Financial Partners (FOCS) public, the chairman and chief executive of the RIA aggregator, Rudy Adolf, is singing the praises of the public equity markets. "The IPO is creating permanent capital to invest in our...

Australian firm to join Focus Financial Partners

February 19, 2019

Escala Partners, a wealth management firm headquartered in Melbourne, Australia, with offices in Sydney and Perth, will join Focus Financial Partners sometime in the second quarter, the company said in a release. Escala, which manages the equivalent...

Mercer Advisors acquires $350 million Arbor Asset Management

February 19, 2019

Mercer Global Advisors has aquired Arbor Asset Management, a registered investment adviser located in Ann Arbor, Mich., that manages approximately $350 million in assets. Mercer Advisors, headquartered in Denver, has approximately $15 billion...

Ascensus sells 25 percent stake to private equity firm

February 19, 2019

Ascensus, which administers retirement and college savings plans, has sold a 25% stake to a group of private-equity investors, the firm announced Tuesday. Atlas Merchant Capital leads the investor group, which includes Singapore's sovereign...

Veteran adviser locks down a succession plan that lets him stay involved

February 15, 2019

It took a while before it became a top priority, but Leon LaBrecque can finally rest easy knowing that at 63, his business succession plan is in place. After about eight years of weighing his options, and 18 months of grinding out the details,...

Warburg Pincus among private equity managers interested in acquiring Kestra Financial

February 15, 2019

Warburg Pincus is among the private equity managers interested in acquiring Kestra Financial Inc., according to two industry sources. Bids were due this week for the independent broker-dealer, and a sale could be announced within the next few...

Thinking about selling your firm? 5 ways to prepare

February 13, 2019

Without a doubt, 2018 was a big year for M&A in the independent wealth management industry, and robust activity is expected to continue this year. Fidelity recently gathered nearly 40 leaders from across the industry at our fourth annual M&A...

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