Displaying 111 results
CRM provider Wealthbox gets $31 million infusion
Frontier Growth is taking a minority equity stake in the Rhode Island-based fintech.
Dynasty Financial IPO raises questions about future of platform
While private equity investors have an unquenchable thirst for wealth management, the public markets haven't always been kind to wealth management companies.
PE firm Parthenon to acquire $7.46 billion RIA
RSM US Wealth Management will be renamed Choreo.
DOL tones down Trump-era statements on PE in 401(k)s
In a recent supplement to a 2020 letter, the agency made clear that it does not endorse the use of private equity in defined-contribution plans.
Cerity Partners adds $5 billion RIA in San Francisco
The addition of Bingham Osborn & Scarborough will push the New York-based aggregator to nearly $40 billion in total RIA assets.
KKR invests in RIA Beacon Pointe
The woman-led management team retains a majority stake in the firm, while investor Abry Partners is exiting.
CI Financial posts record profits as it moves beyond just buying RIAs
After acquiring 25 U.S. RIAs over the past 24 months, the Toronto-based aggregator is taking a minority stake in GLASfunds, a $1 billion alternative investments platform.
Mercer buys $700 million Texas RIA
Dallas-based Lake Point Advisory Group was founded in 2007 by Reid Johnson, who was described as a 'marketing genius' by Mercer's Dave Barton.
3 drivers of record M&A activity
With valuations of financial planning and wealth management shops at record highs and private equity focusing on the space, it would seem prudent for firms to at least research their options.
Cresset balloons to $20 billion in assets with latest megadeal
Starting from scratch just four years ago, Cresset Asset Management has now become one of the fastest growing RIAs with the acquisition of Berman Capital Advisors and its $4.7 billion in assets.
Soccer is the next big thing for hedge funds and private equity
European soccer has always been desperate for cash, but that’s grown more acute after the pandemic kept crowds away from stadiums and left some of the continent’s biggest and most successful clubs with eye-watering debt.
Ultra-rich boom fuels M&A frenzy for advisory firms
The deals are being driven by the growing legions of rich individuals who need financial advice and the growing shortfall in the ranks of financial advisers.
Mariner Wealth Advisors extends PE-backed buying spree
The addition of The Pinnacle Group, a $600 million Ohio-based RIA, marks the fifth deal by Mariner since it partnered with private equity investor Leonard Green & Partners in April.
How will a capital gains tax hike affect red-hot RIA M&A market?
Many RIA sellers who were already contemplating an exit in the near- to mid-term are likely to see the handwriting on the wall and scramble to complete their sales before the tax increase takes effect.
Prudential commits $200 million to diversity in private equity
The company's investments will focus on women- and minority-owned PE firms.
Why the M&A clock is ticking faster than ever
Firms interested in selling have increased dramatically, but going into the end of this year, it may be hard to find the specialized contractors needed to complete a deal, like bankers, lawyers and accountants.
Wells Fargo Asset Management rebrands with new CEO
Legg Mason vet Joe Sullivan is bullish on the future of Allspring Global Investments. The $604 billion asset management arm of Wells Fargo & Co. is being acquired for $2.1 billion by GTCR and Reverence Capital Partners.
Private equity firm invests in Concurrent Partners
Members of the partnership, which is affiliated with Raymond James, will be able to tap capital from Merchant Investment Management.
Emigrant Partners takes stake in Tennessee RIA
Memphis-based Gerber Taylor Capital Advisors oversees $13.8 billion in assets.
Emigrant Partners takes stake in Verdence Capital
The $3 billion Baltimore-area firm says it will use the funds to invest in its platform, expand its team and develop a national footprint through M&A.
