Mergers & Acquisitions
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RIA M&A off to roaring start in 2015
Firms are making more and bigger deals as market growth boosts valuations and fuels activity.
BlackRock makes big bet on digital advice with acquisition of robo FutureAdvisor
Deal puts the world's largest money manager squarely in the financial advice market as it branches out from managing mutual funds and its iShares brand of ETFs.
RS Investments on the block, five firms in the running
Money managers DoubleLine Capital, Victory Capital Management, Virtus Investment Partners, Ridgeworth Investments and private equity firm Lovell Minnick Partners slated to place bids Friday.
Bronfman E.L. Rothschild acquires Highline to create $3.6B firm
Bronfman E.L. Rothschild buys Neal Simon's Highline Wealth Management, creating a $3.6 billion firm — the latest example of big consolidations among independent advisers.
RCAP to focus on cost-cutting at Cetera
Now that RCS Capital Corp. has sold its wholesaling business, the cost-cutting can begin in earnest at the 11 broker-dealers with 9,500 advisers who make up its Cetera Financial Group, led by CEO Larry Roth.
Considering growing through M&A? Don't call it a 'tuck-in'
Sophomoric term doesn't capture the magnitude of importance that these transactions represent.
RCS Capital to sell wholesaling business to Apollo to focus on Cetera Financial Group
Private-equity giant Apollo Management has agreed to pay $25 million for the wholesaling business of broker-dealer holding company RCS Capital (RCAP). In a separate deal, the company's largest shareholder, Nicholas Schorsch, and his partners will receive a huge payday in return for a stake in a new
Cetera closing J.P. Turner, offering some brokers jobs at Summit
CEO Larry Roth claims the move is not part of any widespread consolidation within RCAP's retail brokerage division.
UBS' U.S. brokerage business not for sale: Sergio Ermotti
Sergio Ermotti, chief executive of UBS Group AG, took time Monday to deny renewed speculation that the firm's Wealth Management Americas group might be for sale.
Goldman Sachs makes ESG bet with acquisition of asset manager Imprint Capital
The asset-management firm advises clients on investing based on their environmental, social and governance views and has more than $550 million of assets under advisement.
Raymond James' Elwyn downplays acquisitions
Brokerage isn't plotting its own big buys despite moves by competitors, says president of the firm's employee-adviser channel.
Focus Financial takes stake in $1 billion wealth adviser
Northbrook, Ill.-based Relative Value Partners brings to 35 the number of affiliates of the deep-pocketed firm led by CEO Rudy Adolf.
Willis Group and Towers Watson to merge
The newly combined advisory and insurance company will be named Willis Towers Watson and have revenue of approximately $8.2 billion.
Barclays brokers sniff at Stifel, jump to Merrill
Fifteen Barclays advisers have joined Merrill Lynch in the wake of news that Stifel Financial had agreed to buy their unit.
Cost pressures compel $24 billion B-D to sell stake to PE firm
Family-owned brokerage firm Lincoln Investment Planning has sold a 20% stake to Lovell Minnick Partners, a private equity firm.