Results for "mergers & acquisitions"

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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,...

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...

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,...

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...

Wentworth Management Services buys World Equity Group

December 7, 2018

Broker-dealer M&A activity continues as 2018 draws to a close, with Wentworth Management Services on Friday announcing its acquisition of World Equity Group, a midsized independent broker-dealer outside Chicago with close to 180 brokers and...

LPL buys AdvisoryWorld for $28 million in cash

December 3, 2018

LPL Financial has acquired AdvisoryWorld, a 31-year-old adviser technology firm, for $28 million in cash. AdvisoryWorld produces a suite of digital tools for investment analytics, portfolio construction and proposal generation. More than 30,000...

Baird and Hilliard Lyons, two established regional firms, to merge

November 27, 2018

In a merger of two established regional brokerage firms, Baird late Tuesday said it agreed to acquire Hilliard Lyons. Combined, the two will have 1,270 financial advisers. The terms of the deal, which is subject to the approval of regulators,...

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...

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...

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...

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...

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