Raymond James Financial has agreed to acquire TriState Capital Holdings, a Pittsburgh-based diversified financial firm that offers private banking, wealth management and commercial lending, as well as securities-based loans for clients of RIA firms and broker-dealers.
The deal, a combination cash and stock transaction, is valued at approximately $1.1 billion, Raymond James said in a release.
TriState Capital will continue operating as a separately branded firm and as a stand-alone division and independently chartered bank subsidiary of Raymond James. Jim Getz will continue to serve a chairman of TriState, while Brian Fetterolf will continue as CEO of TriState Capital Bank and Tim Riddle will remain CEO of Chartwell Investment Partners, TriState's $11 billion asset management unit.
The main driver of cost synergies in the transaction is replacing a portion of TriState Capital Bank’s current and future higher-cost deposits with Raymond James’ lower-cost deposits from the Raymond James Bank Deposit Program, the company said.
Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
