Results for "mergers & acquisitions"

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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...

WisdomTree said to have explored sale to JPMorgan Chase

February 11, 2019

WisdomTree Investments Inc. explored a sale late last year and held talks with JPMorgan Chase & Co., according to people familiar with the matter. WisdomTree's negotiations with JPMorgan ended in December because the parties couldn't agree on...

Morgan Stanley agrees to buy Solium Capital at 43% premium

February 11, 2019

Morgan Stanley agreed to buy Solium Capital Inc. in a bid to add younger clients and tech startups to its stock-plan administration business. The firm will pay $19.15 (Canadian dollars) a share in cash, according to a statement Monday, or about...

Great-West sells life insurance and annuity business for $1.2 billion

January 24, 2019

Great-West Life & Annuity Insurance Co. has agreed to sell the bulk of its individual life insurance and annuity business to Protective Life Insurance Co. for an estimated $1.2 billion, via a reinsurance transaction, according to a company announcement...

Raymond James buys Silver Lane Advisors, an investment bank for RIA mergers

January 23, 2019

Raymond James Financial's plan to acquire Silver Lane Advisors is a recognition of the growing merger and acquistion opportunities in the wealth management business. Silver Lane, founded in 2007, is a boutique investment bank specializing in...

Independent Financial Partners gives advisers 15% equity stake as it readies launch of new broker-dealer

January 22, 2019

Independent Financial Partners will give financial advisers a 15% equity stake in the company, an announcement that comes as the firm gets ready to break away from LPL Financial and launch its own broker-dealer in a few months. IFP, a hybrid...

San Diego RIA managing $408 million merges into $2.77 billion Lido Advisors

January 18, 2019

Ken Stern & Associates, a San Diego,Calif.-based RIA firm managing $408 million in assets, has merged with Lido Advisors, a Los Angeles-based registered investment advisory firm managing $2.77 billion in assets. Lido has an office in San Diego,...

Miracle Mile Advisors adds $300 million Palo Capital

January 16, 2019

Miracle Mile Advisors, a registered investment adviser based in Los Angeles that manages $1.2 billion in assets, has acquired Palo Capital of Newport Beach, Calif., which manages $300 million in assets for about 150 clients. Palo Capital's four-person...

6 ways advisers can make 2019 their 'prove it' year

January 15, 2019

Looking back, I feel as though 2018 was the advisory industry's first real year of momentous consolidation. We saw the beginnings of billion-dollar mergers (think Edelman and Financial Engines), broker-dealer acquisitions,​ IPOs, fintech buyouts...

RIA M&A sets another record in 2018

January 14, 2019

The financial market volatility that picked up in earnest last year was not enough to derail the pace of consolidation among registered investment advisers. Echelon Partners reported Monday that merger and acquisition activity in the RIA space...

Hub-Sheridan Road latest deal to heat up M&A among 401(k) advice firms

January 10, 2019

Acquisitions of financial advisory firms focused on the retirement-plan market appear to be gaining momentum. A handful of recent deals involving large 401(k)-focused firms and a more varied group of buyers have led some experts to believe that...

West Virginia RIA managing $658 million joins Focus Financial

January 8, 2019

Lanham O'Dell & Company, Inc., an RIA firm managing $658 million in assets at the end of 2017, has agreed to join Focus Financial Partners. Lanham, which was founded in 1981 and does business as LOC Investment Advisers, is based in Hurricane,...

Next Financial latest broker-dealer to be purchased by Atria

January 8, 2019

After being on the block for years, Next Financial Group Inc., an independent broker-dealer with close to 540 reps and advisers, said Tuesday it had agreed to be acquired by Atria Wealth Solutions, a hard-charging, private-equity-backed buyer...

Plaid buys data aggregation rival Quovo for $200 million

January 8, 2019

Quovo, one of the biggest names in data aggregation for the wealth management and brokerage industries, will be acquired for $200 million by rival startup Plaid, according to Bloomberg. Like Quovo, Plaid facilitates data connections between...

Bob Oros takes over as HighTower CEO

January 7, 2019

HighTower Advisors confirmed on Monday that industry veteran Bob Oros has taken over as CEO of the Chicago-based RIA consolidator. The news, which was originally reported in November, puts Mr. Oros at the head of a $60 billion wealth management...

Cincinnati deal creates $800 million RIA

January 4, 2019

A Cincinnati, Ohio,-based registered investment adviser managing $500 million in assets, Madison Wealth Managment, has acquired a hometown firm, Greystone Investment Management. Madison, founded in 2000, also has offices in Leesburg, Va., and...

Market downturn could accelerate 401(k) record-keeper consolidation

January 2, 2019

Plan advisers would be wise to watch the 401(k) record-keeper market closely as it enters its next phase of consolidation, which may begin soon. As plan advisers look to cut back on the number of their provider partners, picking on the wrong...

Focus Financial engineers two year-end acquisitions by its subsidiaries

December 31, 2018

Focus Financial Partners is closing the year with a bang, announcing two acquisitions by its subsidiaries Monday that are expected to close in the first quarter of 2019. The Colony Group, a $6.3 billion firm based in Boston that has been a unit...

Biggest events for advisers last year

December 28, 2018

At the 2018 MarketCounsel Summit I was asked for the most important "breakthrough" moments for our firm. As we reach the end of the year, I believe we should reflect on the most important developments in the wealth management industry as a whole,...

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