Mergers & Acquisitions
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$450 million hybrid RIA network launches with LPL
Financial Advocacy Network, a collective of 13 advisers with $450 million in assets, is hoping to grow to $1 billion in five years
Schorsch picks up yet another midsize IBD
Nicholas Schorsch continues to add midsize independent broker-dealers to the Cetera Financial Group Network, and on Wednesday night announced plans to acquire Girard Securities Inc.
Bill Gross disciple takes down the 'Bond King'
This edition of Breakfast with Benjamin covers Bill Gross getting beaten at his own game, the SEC's focus on liquid alt funds, Obama's attack on corporate inversions, and more.
Integration of Schorsch BD empire gets underway
RCS Capital Corp. is beginning to tie together its nine disparate retail broker-dealers, and on Tuesday morning said it will offer services from one broker-dealer across the various platforms of the others. Included in those changes will be combining due diligence and research groups at the start
Ladenburg Thalmann acquires KMS Financial Services
Ladenburg Thalmann Financial Services Inc. continued to expand in size and geography on Monday by purchasing independent broker-dealer KMS Financial Services Inc. in a $24 million deal.The acquisition, which consists of cash, notes and stocks, gives the Miami-based Ladenburg a foothold in Seattle,
Schorsch strikes again
Nicholas Schorsch has returned to wheeling and dealing, with the broker-dealer he controls, RCS Capital Corp., announcing it has agreed to buy VSR Financial Services, an independent firm known for selling alternative investments.
Advisers beware: Corporate inversions could mean higher tax bills for your clients
Companies moving abroad to avoid taxes — corporate inversions — could trigger capital gains and additional paperwork for clients.
CFP Board quietly cutting deals on compensation descriptions
The Certified Financial Planner Board of Standards Inc. is quietly trying to calm the waters that have been roiled over the last two years by controversy over how advisers holding the CFP designation define themselves.
Securities America buying insurance-based B-D
Sunset Financial Services has 268 affiliated reps and $2.4 billion in client assets.
A seller's market for sharp advisers
2014 M&A activity is on track for its first year-over-year increase since 2010, and a recent major RIA deal should be enough to alert well-run advisory firms that it's a seller's market.
Private bank to acquire $4.3B RIA, creating $9B wealth management monster
Boston Private Bank is paying $60M for Florida RIA Banyan Partners, a $4.3B firm, creating a new wealth management behemoth.
Murdoch ups the ante to more than $75B in bid for Time Warner
Twenty-First Century Fox Inc. (FOXA) is willing to pay more than $75 billion for Time Warner Inc. (TWX), according to people with knowledge of the matter, a sign Rupert Murdoch is undeterred after being rebuffed in an initial offer for the media company. Time Warner shares soared. Fox’s willingness
M&A hot means market not?
merger and acquisition activity has long been a trusty sign of a maturing equity market cycle.
Opinions on bull market split following most recent run-up
After the S&P 500 reaches new heights, new questions surface on whether the market is headed up or down.
Investors Capital shareholders back Schorsch's RCS Capital merger
Investors Capital Holdings Ltd. said Tuesday its shareholders had approved the terms of the merger with RCS Capital Corp., best known by its ticker symbol RCAP. Announced last October, the deal is scheduled to close on Friday, Investors Capital said in a statement Tuesday. Buying Investors Capital