Results for "mergers & acquisitions"

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Invesco to buy OppenheimerFunds

October 18, 2018

Invesco Ltd. is betting $5.7 billion that active management has a bright future. It agreed to pay about that amount in a deal with Massachusetts Mutual Life Insurance Co. to acquire its OppenheimerFunds, which specializes in picking stocks and...

Investment firm co-founded by Al Gore involved in $2.2M fintech deal

October 9, 2018

Al Gore's Generation Investment Management and Canadian pension fund Caisse de Depot et Placement du Quebec teamed up to acquire control of wealth-management services provider FNZ in one of the year's largest fintech deals. The acquisition of...

RIA consolidation on pace for sixth straight record year

October 18, 2018

The pace of consolidation among registered investment advisers slowed slightly during the third quarter but remains on track for a sixth consecutive record year. The latest report from Echelon Partners counted 43 RIA acquisitions during the...

LPL and Independent Financial Partners lose $10 billion retirement group

October 18, 2018

Retirement Benefits Group, a multibillion dollar advisory group focused on defined-contribution plans, is leaving LPL Financial and Independent Financial Partners early next year, according to a source familiar with the plans. RBG — which...

Allianz dumps its IBD

October 11, 2018

Another life insurance company is dumping its independent broker-dealer, with Allianz Life Insurance Co. of North America saying on Thursday it was leaving the retail broker-dealer and RIA businesses. Advisers with Allianz's Questar Capital...

9 predictions for financial advisers for 2019

October 9, 2018

As we roll into the final quarter of the year, David Canter, head of the RIA segment at Fidelity Clearing & Custody Solutions, has been speculating on what financial advisers might expect in 2019. From the future of mega advisory firms to technology...

Captrust acquires $1.4 billion wealth shop

October 16, 2018

Captrust Financial Advisors has acquired FCE Group, a $1.4 billion advisory firm based in Lake Success, N.Y., building on its multiyear strategy to expand revenues from wealth management operations. FCE Group, whose legal name is First Capital...

Fleming's Rockefeller Capital may buy into Silicon Valley wealth firm

September 7, 2018

Rockefeller Capital Management is in talks to buy at least part of a Silicon Valley-based wealth adviser from Bank of Montreal as it targets one of the fastest growing sources of affluence in the U.S. The investment firm led by former Morgan...

JB Investment Management joins RMB Capital

October 3, 2018

JB Investment Management has merged with RMB Capital of Chicago. JB Investment Management, which has $550 million in client assets and focuses on fixed-income strategies, will continue to operate out of its Brookfield, Wisc., office, but the...

Western & Southern buys Gerber Life Insurance in $1.55 billion deal

September 18, 2018

Western & Southern Financial Group has bought Gerber Life Insurance Co., a subsidiary of Nestlé, in a deal valued at $1.55 billion. Gerber Life, a direct-to-consumer life insurer, has $52 billion of life insurance in force and covers 3.6 million...

Focus Financial acquires TAMP for $235 million

September 28, 2018

Focus Financial Partners Inc. is acquiring Loring Ward Holdings for $235 million in cash and stock, in a bid to scale its outsourced services for independent advisers. Loring Ward, which offers a turnkey asset management program, manages $17...

Stifel subsidiary acquires $1.3 billion San Francisco-based RIA

October 2, 2018

1919 Investment Counsel, a subsidiary of Stifel Financial Corp., has acquired San Francisco-based independent registered investment adviser Rand & Associates, which manages approximately $1.3 billion in client assets. "The Rand acquisition gives...

AssetMark to add $5.7 billion in AUM with acquisition

August 13, 2018

AssetMark Inc., a Concord, Calif.-based turnkey asset management program for advisers, has agreed to acquire Global Financial Private Capital, a Sarasota, Fla.-based firm that has $5.7 billion in combined assets under managment on its platforms....

Private Ocean grows to $2.2 billion with acquisition of Mosaic Financial

September 24, 2018

Private Ocean is continuing its expansion in the San Francisco area with the acquisition of Mosaic Financial Partners. The addition of the $620 million advisory firm gives Private Ocean a presence in San Francisco and the North Bay and East...

Bonhill Group completes acquisition of InvestmentNews

August 17, 2018

Bonhill Group Plc has completed its roughly $27.1 million acquisition of InvestmentNews. London-based Bonhill, formerly known as Vitesse Media Plc, announced its intention to acquire InvestmentNews from Crain Communications Inc. on July 31....

Vitesse Media to buy InvestmentNews in $27.1M deal

July 31, 2018

InvestmentNews, the leading source of news, analysis and information to the financial advisory community, is being purchased by London-based Vitesse Media plc. Vitesse, which is publicly traded on the London Stock Exchange's AIM market, has...

Better together? Why not all advisory teams are meant to go independent

September 17, 2018

For advisers who yearn for independence, going independent on their own can seem like the perfect solution. Advisers are attracted by the flexibility of the registered investment adviser model and the ability to serve their clients in a conflict-free...

Cetera Financial Group brokers taking wait-and-see attitude on sale

July 19, 2018

Cetera Financial Group's 8,000 brokers are taking a wait-and-see attitude in reaction to news that their company has been sold yet again, this time to a private equity firm that could very well put it up for sale down the road. One big question...

Larry Roth links consulting firm with Berkshire Global Advisors

September 12, 2018

Larry Roth, the former CEO of Cetera Financial Group and AIG Advisor Group who is now an industry consultant, has formed an alliance with middle-market investment bank Berkshire Global Advisors to help facilitate acquisition activity within...

Captrust adds $427 million hybrid RIA

September 10, 2018

Captrust Financial Advisors has acquired Morton Wealth Management, a Greensboro, N.C.-based hybrid registered investment adviser with $427 million in client assets. Terms of the deal were not disclosed. Captrust added three advisers to its ranks...

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