Results for "mergers & acquisitions"

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What's driving value in the booming 401(k) adviser M&A market?

September 12, 2019

When asked what drives value for retirement plan practices, Dick Darian, CEO of consulting firm Wise Rhino Group, replied: "Financials, financials, financials." "Like location with real estate, free cash flow or EBITDA has the greatest impact...

Advisor Group new bonus program falls short for some advisers

September 6, 2019

Some of Advisor Group's more than 7,000 brokers and financial advisers are underwhelmed by the broker-dealer network's offer of various cash awards and bonuses designed to keep them happy and in their seats as the firm adjusts to new ownership....

UBS considering mergers to cope with European banking market malaise

September 5, 2019

UBS Group is considering mergers as well as cooperation with other banks to help cope with Europe's challenging banking market. "We are looking at those issues about consolidation as one part of the equation," CEO Sergio Ermotti said at a conference...

$21 billion advisory firm is expanding to Europe

September 3, 2019

Tiedemann Advisors, which oversees about $21 billion in assets, is expanding outside the U.S. for the first time to better serve the cross-border needs of its high-net-worth clients and add customers abroad. The wealth management firm's new...

Peter Mallouk heads an RIA with $42 billion in assets — and has made only one acquisition

August 28, 2019

Creative Planning is among the largest registered investment advisers in the country, with $42 billion in assets under management among 96,000 client accounts. Until a few months ago, the firm's growth had been purely organic, a remarkable feat...

New York IBD to acquire $2.5B Boston hybrid

August 27, 2019

National Holdings Corp., a New York-based independent brokerage, investment banking and asset management firm, is acquiring Winslow Evans & Crocker Inc., a Boston-based employee-owned hybrid firm managing $2.5 billion in assets. The transaction...

Advisor Group acquisition financed by debt rated 'junk' by S&P

August 23, 2019

The $1.6 billion in debt issued to finance the recent acquisition of Advisor Group has been rated below investment grade — commonly known as junk bonds — in a report this month by S&P Global Ratings. Reverence Capital Partners, a private...

Verbal agreement became a succession plan

August 23, 2019

Sometimes a verbal agreement is all you need to get a succession plan rolling. That was the case in August 2008, when John Middleton walked away from a job as an institutional portfolio manager at Invesco to become a financial adviser at a $41...

Captrust acquires $3.7 billion San Antonio-based RIA

August 22, 2019

Captrust Financial Advisors, a Raleigh, N.C.-based registered investment adviser managing more than $9.6 billion in assets, will acquire South Texas Money Management, a San Antonio-based RIA firm managing $3.7 billion in assets. [More:​ MAI...

Canton, Ohio-based RIA to acquire $240 million crosstown firm

August 21, 2019

Beese Fulmer Private Wealth Management, a Canton, Ohio-based registered investment adviser managing about $675 million in discretionary assets, will acquire MacNealy Hoover Investment Management, an RIA also based in Canton and managing about...

California-based RIA acquires $200 million RIA

August 21, 2019

EP Wealth Advisors, a Torrance, Calif.-based registered investment adviser that manages almost $4.4 billion in assets, has acquired Personal Financial Consultants, an RIA in Lafayette, Calif., which managed $200 million in assets. [More:​...

Kestra Financial's new rollup lands its first RIA

August 20, 2019

Bluespring Wealth Partners, an RIA rollup firm launched by independent broker-dealer Kestra Financial Inc. just last month, has acquired its first firm. Hickory Asset Management Inc. of Concord, Ohio, which has $152.6 million in client assets,...

HighTower makes 'significant' investment in Lexington, Mass.-based RIA

August 20, 2019

HighTower has made what it calls a 'significant' strategic investment in Lexington Wealth Management, an RIA based in Lexington, Mass., that has $1 billion in assets under advisement. [More: Bob Oros opens up about HighTower's aggressive growth...

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...

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