M&A
Focus Financial Partners Touts Billion-Dollar War Chest for RIA Acquisitions
“We see many attractive opportunities to deploy capital,” says CEO Rudy Adolf, citing $1 billion to fuel deals in 2021.
CI Financial CEO Shrugs Off Debt, Says Buying U.S. RIAs Pays
Despite rising debt, CI Financial chief Kurt MacAlpine says the Toronto-based asset manager will continue to buy RIAs in the United States.
Big Firms Get Even Bigger, Cerulli Says
Almost 72% of U.S. brokers work at the 25 largest firms, up from 58% ten years ago, according to a new study highlighting accelerating industry consolidation.
Cetera to Buy Voya Brokerage Unit with 900 Reps
Voya Financial’s independent broker-dealer, which includes around $40 billion in client assets, will become part of Cetera Advisor Networks.
LPL Gets ‘Commitments’ from Waddell Advisors Serving 80% of Assets
LPL CEO Dan Arnold said it is having an “ongoing dialogue” with the remaining undecided Waddell & Reed advisors ahead of the mid-year closing of the deal.
PE Strikes Again: Lightyear-Backed Cerity Buys $1.1 Billion Boston RIA
The acquisition of Bainco International Investors brings Cerity Partners’ total assets to over $28 billion.
PE-backed Captrust Buys $800 Million-AUM Pennsylvania RIA
PWA Wealth Management was the roll-up’s seventh acquisition to close in 2020.
Atria Wealth to Buy California Independent Broker SCF, Its Sixth Deal
Independent broker-dealer aggregator Atria says SCF Securities will add about 150 brokers with $4 billion in assets under administration.
Hightower Takes Stake in $830 Million New York RIA
Purchase of a stake in Siller & Cohen Family Wealth Advisors, a Rye Brook, N.Y.-based registered investment advisor, is Hightower’s third transaction in 2021.
CI Financial Buys Chicago RIA and Asset Manager Overseeing $23 Billion
The addition of Segall Bryant & Hamill, an RIA and institutional asset manager, brings Canada-based CI’s total U.S. assets to $46.1 billion.
Mercer Buys Iowa RIA Managing $215 Million
Purchase of Ames, Iowa-based Marrs Wealth Management by Mercer Global Advisors in December was the RIA rollup’s sixth closing that month.
