Mergers & Acquisitions
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Glut of IBDs for sale creating a buyer's market, putting pressure on prices
Black Friday sales come early for buyers of independent broker-dealers as a slew of available firms puts pressure on prices.
AIG Advisor Group on the block
One of the largest networks of independent broker-dealers in the country recently hired a law firm, which in turn will select an investment bank to begin discussions with interested buyers, according to two sources with knowledge of the company's moves.
Merrill team with $2.9 billion joins Raymond James
Five advisers in New York bail on Merrill Lynch, the second multibillion-dollar wirehouse team to join RJ in the last five months.
Aspiriant to add $570 million San Diego RIA to its ranks
Additional deals expected as $9 billion firm is primed for growth, CEO says.
CEO Roth to advisers: Cetera has six potential suitors
A deal to sell the broker-dealer outright or to attract a large private equity investor is anticipated by year-end.
United Capital adds two firms and more than $1.5B in assets
United Capital Financial Advisers announced Monday it was adding more than $1.5 billion in assets through two acquisitions.The first, PSA Insurance & Financial Services of Hunt Valley, Md., has a retirement plans practice with $1.1 billion in assets under advisement and a wealth management practice
Stifel CEO wants better results from Sterne Agee's independent B-D business
CEO Ron Kruszewski says margins were lower in the wealth management group because of its recent acquisition's independent advisers.
John Hancock acquiring 1,100 Transamerica advisers
John Hancock Financial Network plans to acquire up to 1,100 advisers from Transamerica Financial Advisors Inc., representing roughly one-quarter of those currently affiliated with Transamerica.
Carl Icahn calls for AIG to split itself up into three companies
The billionaire activist investor said busting up conglomerate would limit regulation, which he calls a 'tax on size.'
Wells Fargo and Credit Suisse strike recruiting deal for 250 advisers
Wells Fargo & Co. and Credit Suisse have struck a deal for Wells to recruit close to 250 advisers currently under the roof of Credit Suisse's U.S. private bank.
Raymond James in talks to buy Deutsche Bank's private-client brokerage
Raymond James Financial Inc. is in talks to buy Deutsche Bank's U.S. private-client brokerage, according to people briefed on the matter. The business has about 250 advisers.
H.D. Vest to be acquired by Internet company Blucora for $580 million
Internet company Blucora pays whopping premium to align the independent broker-dealer with one of its current businesses, TaxACT.
It's not too late to hitch a ride on the tech-sector consolidation wave
It's not too late to hitch a ride on the tech-sector consolidation wave Record-setting Dell-EMC deal is just the beginning Oct 13, 2015 @ 12:24 pm By Jeff Benjamin + Zoom Don't be too hard on yourself if you were caught flat-footed by Dell's record-setting $67 billion acquisition of EMC. Deal flow
Edelman Financial Services to be acquired by Hellman & Friedman
Hellman & Friedman will take majority stake in financial planning firm; founder and CEO Ric Edelman remains largest individual shareholder.
LPL faces reckoning from activist investor
With giant broker-dealer's stock down 25% from its high last year, experts say Marcato could push for major changes.