Results for "mergers & acquisitions"

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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...

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...

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...

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....

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...

$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...

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...

Succession planning where the adviser keeps working?

August 6, 2019

We financial advisers are not a young group. In fact, with an average age of 49, we're part of one of the oldest workforces of any profession. With so many principals nearing retirement, more's being written about succession planning: Simply,...

Charles Schwab inks deal to buy USAA brokerage business for $1.8 billion

July 25, 2019

The Charles Schwab Corp. said it had agreed to buy the asset's of USAA's investment management company, including brokerage and managed portfolio accounts for $1.8 billion in cash, the firm announced Thursday. According to a statement by Schwab,...

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...

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...

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...

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,...

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:​...

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...

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...

Charles Schwab reportedly in talks to buy USAA brokerage, wealth management business

July 15, 2019

Charles Schwab Corp. is in talks with USAA to buy the insurer's wealth management and brokerage business for roughly $2 billion, according to the Wall Street Journal. The transaction, which may occur by the end of the month, would net Schwab...

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...

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...

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