Mergers & Acquisitions

Mesirow Acquires Florida-Based RIA Firm Price Wealth Management

By Amit Chowdhry ● Sep 11, 2024

Mesirow, an independent employee-owned financial services firm, announced the acquisition of Price Wealth Management, an established RIA firm based in Stuart, Florida. This deal builds on Mesirow’s significant existing footprint in the area, including offices in Miami and Boca Raton. Price Wealth Management was represented by DeVoe & Company, a leading consulting firm and investment bank to RIAs.

LPL Financial Buys $9 Billion Broker-Dealer And RIA The Investment Center

By Amit Chowdhry ● Sep 11, 2024

LPL Financial announced that the firm has entered into a definitive agreement to acquire The Investment Center, a broker-dealer and registered investment adviser based in Bedminster, New Jersey.

Blackstone Buying Data Center Company AirTrunk In A$24 Billion Deal

By Amit Chowdhry ● Sep 10, 2024

TPG Rise Climate Buying Emissions Reduction Company MIRATECH

By Amit Chowdhry ● Sep 10, 2024

TPG Rise Climate - which is the dedicated climate investing strategy of TPG’s global impact investing platform - announced that it has acquired MIRATECH - which is a global market leader in aftermarket emissions and noise reduction technology for stationary industrial engines.

BNY To Buy Wealth Management Solutions Company Archer

By Amit Chowdhry ● Sep 10, 2024

Global financial services company The Bank of New York Mellon Corporation (BNY) announced BNY has entered into a definitive agreement to acquire Archer Holdco, a leading technology-enabled service provider of managed account solutions to the asset and wealth management industry.

Wealth Enhancement Group Acquires $1.3 Billion Levy Wealth Management Team

By Amit Chowdhry ● Sep 10, 2024

Wealth Enhancement Group - a national independent wealth management firm with over $90.5 billion in client assets - announced the acquisition of Levy Wealth Management Group, a hybrid RIA located in Philadelphia, Pennsylvania. This team oversees over $1.3 billion in client assets and is led by President, Victor Levy, CFP, Chief Operating Officer & Wealth Advisor, Michael Clatterbuck, CFP, ChFC, and Wealth Advisor, Joseph Robostello, CFP, ChSNC.

Raymond James Adds $300 Million Colorado Advisory Group

By Amit Chowdhry ● Sep 10, 2024

Kirk Bell, the Central division director for Raymond James Financial Services (RJFS) has welcomed Garrison Financial Group to the firm, which is operated by financial advisors Craig Garrison, Timothy Hall, CFP, and Matthew Strelau, CFP.

Sequoia Financial Group Buying Wealth Management Arm Of Eide Bailly

By Amit Chowdhry ● Sep 8, 2024

Sequoia Financial Group (an SEC-registered wealth manager with over $19.3 billion in assets under management as of June 30, 2024) and Eide Bailly LLP (a top 20 national accounting firm) announced a strategic partnership, with Sequoia Financial acquiring Eide Bailly's wealth management practice and firms collaborating to deliver expanded services to each other's clients.

Raymond James Adds $140 Million Advisor

By Amit Chowdhry ● Sep 8, 2024

Alex David, the Northeast division director for Raymond James Financial Services (RJFS), announced that the firm has welcomed financial advisor Teresa Zipf, CFP to the team.

LPL Financial Brings In $150 Million Advisor Kelly Compton

By Amit Chowdhry ● Sep 8, 2024

LPL Financial announced that financial advisor Kelly Compton has joined LPL Financial’s broker-dealer, RIA and custodial platforms, aligning with existing firm Client Centric Wealth Management (part of Upstream Investment Partners). And he reported having served about $150 million in advisory and retirement plan assets and joins LPL after owning his RIA, WCM Wealth Management, which custodied with Schwab Advisor Services.

Sanctuary Wealth Adds $400 Million TOVA Team

By Amit Chowdhry ● Sep 7, 2024

Sanctuary Wealth announced it has welcomed TOVA Wealth, a Wilmington, North Carolina, practice with over $400 million in client assets. The firm is led by its founder and Managing Partner Katie Medina, CFP, CRPC. And also on the team are advisors Michael Tunney and Eric Starkey, CFP, CRPC, and client associate Amy Kepler.

Salesforce Buying Own Company In $1.9 Billion Deal

By Amit Chowdhry ● Sep 6, 2024

CRM giant Salesforce announced it has signed a definitive agreement to acquire Own Company, which is a leading provider of data protection and data management solutions. Under the terms of the deal, Salesforce will acquire Own for approximately $1.9 billion in cash, net of the value of the approximately 10% of outstanding shares currently owned by Salesforce, subject to customary purchase price adjustments.

AlphaTrAI Buys Anchor Advisory Services To Enhance Support For Wealth And Asset Management Firms

By Amit Chowdhry ● Sep 5, 2024

AlphaTrAI, a leading provider of tech-enabled services for the wealth and asset management industries, announced the acquisition of Plymouth, Mass-based Anchor Advisory Services, which is a premier scheduling and sales management solutions provider for the financial services industry. And the tech-enablement of Anchor’s business with the latest tools will expand opportunities for Anchor and its clients, enhancing the value proposition of the firms and driving the growth of the company nationwide.

Verizon Acquiring Frontier Communications In $20 Billion Deal

By Amit Chowdhry ● Sep 5, 2024

Today Verizon Communications and Frontier Communications announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all-cash transaction valued at $20 billion.

Outside Interactive Buys MapMyFitness From Under Armour

By Amit Chowdhry ● Sep 3, 2024

Outside Interactive - which is the leading creator of outdoor content, services, events, and experiences, announced the acquisition of MapMyFitness from Under Armour. MapMyFitness is a fitness tracking app that enables users to track their activities using built-in GPS on their mobile devices. This technology includes popular applications like MapMyRide, MapMyRun, and MapMyWalk.

Gray Capital Buys Solana At The Crossing In Indiana, Marking $112+ Million Of Multifamily Assets Acquired

By Amit Chowdhry ● Sep 3, 2024

Gray Capital announced the acquisition of Solana at the Crossing, which is a 384-unit class A apartment community built in 2014 and located on the north side of Indianapolis, Indiana. This is Gray Capital's eleventh apartment asset in the Indianapolis area.

Raymond James Welcomes $165 Million Advisory Team

By Amit Chowdhry ● Sep 2, 2024

Raymond James’ senior vice president and FID national director of the Financial Institutions Division (FID), Stephen Kruchten, announced that the firm has welcomed the wealth advisory team of Security Wealth Management (based at Security Savings Bank) to the FID. With this new alignment, the group will offer its clients investment and wealth management services through Raymond James Financial Services.

CW Advisors Adds $1.2 Billion Agili Team

By Amit Chowdhry ● Sep 2, 2024

CW Advisors - a registered investment advisor (RIA) based in Boston - announced it has partnered with Agili, an independent, fee-only firm that blends financial planning, investment strategy, and strategic services. This deal adds $1.2 billion of assets under management to CWA.

LPL Brings In $375 Million 4Point Wealth Management Team

By Amit Chowdhry ● Sep 2, 2024

LPL Financial announced that financial advisors Christina McConnell, CRC, ADPA, Laura Long, CRPC, AWMA, MBA, and Jay Tillman, CPWA, CIMA, CFP, RICP, CLU, have joined LPL Financial’s supported independence model, LPL Strategic Wealth Services (SW). The team has reported having served approximately $375 million in advisory, brokerage and retirement plan assets and joins LPL from Wells Fargo Financial Advisors Network (FiNet).

Ameriprise: $120+ Million FA Karen DeBaker Joins

By Amit Chowdhry ● Sep 2, 2024

Ameriprise Financial announced that financial advisor Karen DeBaker, CFP has joined the well-established independent Ameriprise practice Threshold Financial Partners. This team is based in De Pere, Wisconsin, and led by financial advisor Carey Somerville. DeBaker brings ten years of experience as a financial advisor, most recently with Raymond James, and more than $120 million in client assets.

Cardea Raises $25 Million And Acquires Assets From Nobel

By Amit Chowdhry ● Aug 29, 2024

Cardea announced that it had acquired select technology and financial assets from Nobel Sustainability Capital Group (NSCG), a consortium of global investors led by Peter Nobel and Wu family members, and has rebranded as Fourcore Capital. In connection with the deal, NSCG has signed a binding agreement to contribute up to $25 million as an anchor investment in the company’s planned capital raise.

McKesson Buying Controlling Stake In Core Ventures For $2.49 Billion

By Amit Chowdhry ● Aug 26, 2024

McKesson announced that it signed a definitive agreement to acquire a controlling interest in Community Oncology Revitalization Enterprise Ventures (Core Ventures). Core Ventures, which is a business and administrative services organization, was established by Florida Cancer Specialists & Research Institute, LLC (FCS), a leading physician-owned community oncology practice. FCS physicians will continue to retain a minority interest in Core Ventures.

Advance Auto Parts Selling Worldpac To Carlyle For $1.5 Billion

By Amit Chowdhry ● Aug 23, 2024

Advance Auto Parts (a leading automotive aftermarket parts provider in North America that serves professional installers and do-it-yourself customers) announced that it has entered into a definitive agreement to sell Worldpac (an automotive parts wholesale distribution business) to funds managed by global investment firm Carlyle for $1.5 billion in cash. This deal is expected to close before the end of the year.

Stryker To Buy Vertos Medical For Treating Chronic Lower Back Pain

By Amit Chowdhry ● Aug 23, 2024

Stryker, a global leader in medical technologies, announced a definitive agreement to acquire Vertos Medical, a privately held company that provides a minimally invasive solution for treating chronic lower back pain caused by lumbar spinal stenosis.

NewEdge Capital: About $5.5 Billion In Expected Assets Recruited In First Half Of 2024

By Amit Chowdhry ● Aug 22, 2024

NewEdge Capital Group, a leading and rapidly growing wealth management firm supporting successful financial advisors nationwide, announced that successful organic growth and recruiting efforts have put the firm on pace for another record year of growth. As of June 30, 2024, NewEdge Capital Group’s total client assets serviced are over $55 billion, with a substantial part of that figure coming from successful recruitment efforts.

Avantor Selling Clinical Services Unit To Audax In $650 Million Deal

By Amit Chowdhry ● Aug 22, 2024

Avantor (a leading global provider of life sciences products and services) announced the signing of a definitive agreement to divest its clinical services business, including kitting, biorepository, and related equipment and ancillaries (clinical services) to Audax Private Equity, for a deal value of approximately $650 million.

FireHydrant Buys Incident Management Company Blameless

By Amit Chowdhry ● Aug 22, 2024

FireHydrant, a reliability platform across the entire incident response lifecycle, announced today that it has closed on a transaction to buy Blameless. This acquisition accelerates FireHydrant’s growth into the enterprise segment for incident management.

LPL Financial Brings Back $535 Million Harbor Lights Financial Group Team

By Amit Chowdhry ● Aug 21, 2024

LPL Financial announced that the founders, financial advisors and staff with Harbor Lights Financial Group returned to LPL Financial’s broker-dealer, RIA and custodial platforms. They reported serving approximately $535 million in advisory, brokerage, and retirement plan assets and joined LPL from Wells Fargo FiNet.

Abacus Life Acquires $600 Million FCF Advisors Team

By Amit Chowdhry ● Aug 21, 2024

Alternative asset manager Abacus Life announced a definitive agreement to acquire FCF Advisors, a New York-based asset manager and index provider specializing in free cash flow-focused investment strategies. The acquisition of FCF - which has approximately $600 million in assets under management - is aligned with Abacus’ ongoing expansion of ABL Wealth and its suite of products.

Summit Trail: $500 Million Advisor Paul Hoskin Joins As Partner

By Amit Chowdhry ● Aug 21, 2024

Summit Trail Advisors, a leading boutique wealth management firm with $18 billion in assets under management, announced that Paul D. Hoskin, CFP, has joined the firm as Partner and Advisor in Newport Beach, California.