Results for "mergers & acquisitions"

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Veteran Goldman Sachs executive to head United Capital FinLife tech

November 5, 2019

Goldman Sachs is officially an adviser technology vendor. The bank announced at Schwab Impact that it has named Rachel Schnoll, a 20-year Goldman veteran who most recently served as head of retail product strategy for Goldman Sachs Asset Management,...

No bonuses to advisers in Ladenburg Thalmann, Advisor Group deal

November 12, 2019

The 4,400 financial advisers working for Ladenburg Thalmann Financial Services Inc., soon to be bought by the Advisor Group, are not likely to see retention bonuses in their immediate future,. Advisor Group said Monday night that it was buying...

Focus Financial is "the only game in town" for RIA M&A, says CEO Rudy Adolf

November 7, 2019

Rudy Adolf takes a look around the red-hot market for RIA acquisitions and he likes the opportunities facing Focus Financial, one of the most senior and well established buyers of RIAs. Mr. Adolf, the founder and CEO of Focus Financial, acknowledges...

North Carolina-based firm acquires $600M RIA founded by Arthur Laffer

November 1, 2019

ButcherJoseph Financial Holdings, an affiliate of the Charlotte, N.C.-based investment banking firm ButcherJoseph & Co., has acquired Laffer Investments Inc., a Nashville, Tenn.-based RIA managing $600 million. [Recommended video: Financial...

Former TCA by ETrade exec lands as CEO of fast-growing RIA

November 8, 2019

Joshua Pace, the former president of the custodian business at TCA by ETrade, has landed a new gig as chief executive of Apella Capital, a Glastonbury, Conn.-based advisory firm with $1 billion under management and plans to grow through acquisitions....

Advisor Group, Cetera Financial seen as potential buyers of Ladenburg Thalmann

November 1, 2019

Advisor Group and Cetera Financial Group, along with a private-equity investor, are the likely buyers of Ladenburg Thalmann Financial Services Inc., according to several industry sources, with the value of the brokerage network and its 4,400...

Ladenburg Thalmann looking for a buyer

October 30, 2019

Ladenburg Thalmann Financial Services Inc. is exploring a sale, but the company is not releasing any details to the 4,400 financial advisers in its network. Bloomberg News reported on Tuesday that Ladenburg is working with an adviser to weigh...

HighTower growth strategy shows no fear of buying high

October 29, 2019

Chicago-based HighTower continues to live up to its reputation as a hungry acquirer of larger registered investment advisers. In the latest example of its private-equity-backed growth strategy, HighTower announced the acquisition of Schultz...

Hybrid firm acquires $280 million RIA

October 29, 2019

Sanctuary Wealth, an Indianapolis, Ind.-based hybrid that manages $9 billion, has acquired NorthView Asset Management, an RIA firm in Austin, Texas, managing $280 million. [Recommended video:​ Protecting against the insider cybersecurity threat]...

Juncture Wealth Strategies team joining Integrated Partners

October 23, 2019

A team of advisers from Juncture Wealth Strategies with $200 million in assets under management has joined Integrated Partners. Rob Sandrew, head of adviser recruiting for Integrated Partners, said the advisers are unwinding their Scottsdale,...

Smaller RIAs are selling like hotcakes

October 22, 2019

With a record 36 transactions completed in the third quarter, 2019 has already surpassed all of 2018 in terms of merger and acquisition activity among registered investment advisers. The total of 101 deals so far this year compares to the record...

Allworth Financial acquires $2.8 billion RIA

October 28, 2019

Sacramento, Calif.-based Allworth Financial continued its aggressive acquisition strategy by purchasing Dallas-based RAA, a $2.8 billion registered investment adviser that specializes in serving airline industry employees. The deal, which is...

Boston advisory firm acquires $160 million hybrid

October 2, 2019

Integrated Partners, a Boston, Mass.-based advisory firm, has acquired Lake Avenue Financial, a hybrid firm managing $160 million in Pasadena, Calif. Both firms use LPL Financial as their broker-dealer. [Recommended video: Next generation clients...

Is the 401(k) adviser M&A market about to cool down?

October 23, 2019

Is this the end of the beginning or the beginning of the end? The retirement plan adviser mergers and acquisitions market is on fire, with some deals reaching 12 to 14 times earnings before interest, taxes, depreciation and amortization, known...

Broadridge moves deeper into advice space with Fi360 acquisition

October 10, 2019

Broadridge Financial Solutions, a technology company best known for processing trades, is continuing its move into the financial advice space by acquiring Fi360, a provider of fiduciary education, training and technology to advisers. Fi360 sells...

SkyView launches digital matchmaking platform for adviser M&A

October 10, 2019

SkyView Partners, a correspondent lender focused on the independent financial adviser market, has a new digital platform it hopes can become the Zillow for buying and selling wealth management practices. Advisers interested in selling a firm...

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...

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...

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...

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...

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