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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.
Mariner Wealth to acquire AdvicePeriod
The capital to purchase the $4.4B Los Angeles-based RIA came from private equity firm Leonard Green & Partners.
Private equity fights to keep tax break
A lobbying group for PE firms is rolling out ads targeting 25 members of Congress to try to protect the carried interest tax break.
How high can RIA valuations go?
From pixie dust to private equity, myriad factors have contributed to the historic M&A surge in the space — with no end in sight.
Pritzker takes minority stake in Steward Partners
The merchant bank's $100 million investment will give Pritzker two seats on Steward's board.
Wealth Enhancement Group buys $1.4 billion Hoover Financial Advisors
This marks the second major deal since March for the $35 billion RIA, and it's a sign of more to come, according to CEO Jeff Dekko.
Charlesbank takes stake in $9 billion RIA
Los Angeles-based Lido Advisors plans to expand across the country organically and via acquisitions.
Private equity digs heels into RIA industry
Private equity investors are keenly interested in RIAs for their recurring revenues, good margins and low capital expenditures. By most accounts, mergers and acquisitions of RIAs continue to be close to record numbers for the past several years.
Stone Point, GIC near $3B deal for Ascensus
The investment firms are buying the company from backers including Genstar Capital, Aquiline Capital and Atlas Merchant Capital.
PE fund targets diversity, governance at small companies
Mill Road Capital is applying a 'progressive private equity' strategy in its latest fund.
Biden tax talk seen driving RIA M&A activity
The record deal volume in the first quarter is being attributed to multiple factors, not the least of which is President Joe Biden's threats to hike capital gains taxes.
Financial advisers are steering clients away from SPACs
Special purpose acquisition companies are leveraging celebrity endorsements to drive investor demand, while financial advisers struggle to protect clients from risk.
PE firm Merchant buys stake in Axiom Financial Strategies
The deal shows that private equity investors are starting to move down-market to invest in smaller registered investment advisers.
iCapital leverages KKR to lure investors into private equity
The rebranded PE fund targets the country's 13 million accredited households with an offer of access to KKR's investment expertise.
Navigating the blurring lines between M&A and recruiting
The competition for high-quality advisers and advisory firms, combined with an insatiable thirst for growth, is creating more choices for advisers as to both whom they partner with and how they choose to structure that relationship.
Wells Fargo Asset Management sold to private equity for $2.1 billion
Nico Marais will stay on as CEO of the $603 billion business after the sale to GTCR and Reverence Capital Partners, while there will be fresh faces on the board.
