Mergers & Acquisitions

Concurrent Brings In 6 New Advisors, Reaching $9.7 Billion In AUM

By Amit Chowdhry ● Dec 16, 2024

Concurrent Investment Advisors, a leading multi-custodial hybrid registered investment adviser (RIA), announced it reached $9.7 billion in assets under management with the addition of six new advisors and additional support staff.

Summit Financial Onboards $550 Million Midway Wealth Partners Team

By Amit Chowdhry ● Dec 15, 2024

Summit Financial, an investment advisory firm with over 40 years of experience providing market-leading, multi-family office services that empower financial advisors to accelerate growth, announced that Midway Wealth Partners has joined its network. Summit’s partnership model, Summit Growth Partners (SGP), has strategically invested in Midway, bringing its total strategic investments to 17 for the year.

New York Life Investments Buying Stake In $4.5 Billion European PE Firm Andera Partners

By Amit Chowdhry ● Dec 15, 2024

New York Life Investments, Candriam and Andera Partners announced plans to enter into a strategic partnership where New York Life Investments, a diversified, global asset management firm with $750 billion in assets under management (AUM), will acquire – through its global affiliate network – a 40% minority equity interest in Andera.

Commonwealth Financial Brings In $300 Million FA Douglas Perry

By Amit Chowdhry ● Dec 15, 2024

Commonwealth Financial Group - a MassMutual firm serving New England - announced it has welcomed Douglas Perry and his accomplished team to its growing network. Formerly with BMO Investments in Portland, Oregon, Perry reported having served over $300 million in client assets, earning a reputation for his comprehensive and client-centric wealth management strategies. The team includes Caroline Perry, Vice President of Operations, and Megan Waters, Client Services Director. Together, they will operate under the newly established Stafford Wealth Advisors.

Raymond James Financial Onboards $400 Million Advisor Darren Wright

By Amit Chowdhry ● Dec 13, 2024

Raymond James Financial Institutions Division (FID) recently brought in Darren Wright, CFA, MBA, as a Corporate RIA-affiliated financial advisor to First Mid Wealth Strategies (FMWS), located at First Mid Bancshares as announced by Stephen Kruchten, senior vice president and FID national director.

Cetera Brings In $465 Million First Citizens State Bank Team

By Amit Chowdhry ● Dec 13, 2024

Cetera Financial Group announced that First Citizens State Bank has entered into a network agreement with Cetera Financial Institutions to support and grow its investment program, First Citizens Investment Services.

Copia Acquiring Wealth Manager Relationship App Company Kinship

By Amit Chowdhry ● Dec 10, 2024

Copia Wealth Studios - an intelligence platform providing insights on over $30 billion in assets - announced the acquisition of Kinship, a relationship management app for wealth managers, marking a significant step toward creating the first comprehensive operating system for asset owners and their managers.

LPL Brings In $550 Million Frontline Investment Team

By Amit Chowdhry ● Dec 10, 2024

LPL Financial announced that financial advisors Amanda Miller, Devin Richard, and Jonathan Vila, CRPC, of Frontline Investment Advisors have joined LPL Financial’s broker-dealer, aligned with existing firm GradePoint Financial. They reported having served approximately $550 million in advisory, brokerage, and retirement plan assets and joined LPL from VALIC Financial Advisors, the broker-dealer for AIG Retirement Services.

Capitolis Acquires Rates Portfolio Compression Company Capitalab In $46 Million Deal

By Amit Chowdhry ● Dec 10, 2024

Capitolis - a technology company helping to create safer and more vibrant capital markets - announced the acquisition of Capitalab, a leader in Rates Portfolio Compression and Margin Optimization, from BGC Group for $46 million. This deal will enable Capitolis, a market leader in the optimization and compression space, to offer more solutions to the industry and unlock additional innovation to address emerging client needs.

HubSpot To Buy AI-Based Conversation Intelligence Platform Frame AI

By Amit Chowdhry ● Dec 9, 2024

HubSpot has agreed to buy Frame AI, an AI-based conversation intelligence platform. Frame AI’s technology transforms unstructured data, such as emails, calls, meetings, and conversations, into real-time insights and actionable recommendations, enabling businesses to anticipate customer needs and deliver exceptional experiences.

Mariner Adding $878 Million In AUM Through Acquisitions

By Amit Chowdhry ● Dec 9, 2024

Leading national financial services firm Mariner announced it has acquired Sarasota, Florida-based Atlas Financial and Newport Beach, California-based Newport Advisory in a pair of deals that will bring the firm a combined total of approximately $878 million in assets under management.

Interpublic Buying E-Commerce Platform Intelligence Node

By Amit Chowdhry ● Dec 9, 2024

Interpublic Group announced the acquisition of Intelligence Node, a leading e-commerce intelligence platform renowned for its data accuracy and global reach. This strategic move significantly enhances Interpublic’s commerce capabilities, offering clients real-time product and market intelligence to understand shopper trends, drive sales growth, and optimize performance in the dynamic digital marketplace.

Allworth Financial Onboards $500 Million Ryan Wealth Management Team

By Amit Chowdhry ● Dec 8, 2024

Allworth Financial announced the acquisition of Ryan Wealth Management, an RIA firm with offices in Yuba City, California, and Spokane, Washington. This partnership strengthens Allworth’s presence in the California and Pacific Northwest markets while further expanding the firm’s expertise in retirement and investment advisory services.

Why SageView Is Buying $400 Million Retirement Plan Consulting Company OnTrack 401(k)

By Amit Chowdhry ● Dec 8, 2024

SageView Advisory Group—one of the nation's leading independent RIA firms—announced it has acquired OnTrack 401(k) of Frederick, Maryland. OnTrack 401(k), which has $400 million in Assets Under Advice (AUA), provides retirement plan consulting services to over 90 institutions.

Partners Group Selling VSB To TotalEnergies In €1.57 Billion Deal

By Amit Chowdhry ● Dec 8, 2024

Partners Group - one of the largest firms in the global private markets industry, acting on behalf of its clients - announced it has agreed to sell VSB Group, a leading renewable energy platform in Europe, to TotalEnergies. The transaction gives VSB an equity value of Є1.57 billion.

Vector Capital Buying Bigtincan In A$183 Million Deal

By Amit Chowdhry ● Dec 8, 2024

Vector Capital Management - a leading private equity firm specializing in transformational investments in established technology businesses - announced that it has entered into a scheme implementation deed under which it will acquire Bigtincan Holdings Limited, a provider of sales enablement software and AI solutions to global enterprises.

Voya Partnering With Orion On Launching Technology Platform For Financial Pros

By Amit Chowdhry ● Dec 6, 2024

Voya Financial announced it is collaborating with Orion, a provider of transformative wealth-tech solutions for financial professionals, to launch a new and enhanced technology platform for its Voya Financial Advisors (VFA) business. And Voya WealthPath will offer VFA’s financial professionals an integrated experience of holistic in-plan, retail, and advisory solutions like financial planning and client relationship management tools.

Why Experian Is Buying Audigent

By Amit Chowdhry ● Dec 6, 2024

Global data and technology company Experian announced it has acquired Audigent, a leading data activation and identity platform in the advertising industry. This deal further expands Experian’s deeply integrated marketing data and identity capabilities in the advertising ecosystem.

Why Aya Is Acquiring Cross Country Healthcare For About $615 Million In Cash

By Amit Chowdhry ● Dec 6, 2024

Aya Healthcare and Cross Country Healthcare announced that they have entered into a definitive agreement whereby Aya will acquire Cross Country for $18.61 per share in cash in a transaction valued at about $615 million. The all-cash transaction represents a premium of 67% to Cross Country’s closing price on December 3, 2024, and a premium of 68% to the volume-weighted average trading price for the 30-day trading period ended December 3, 2024.

Avantax Onboards $143 Million FA Andrew Erickson

By Amit Chowdhry ● Dec 5, 2024

Avantax - a unique community within Cetera Holdings and a leader in tax-focused financial planning and wealth management - announced it welcomed independent financial advisor Andrew Erickson, CFP CEPA, founder of ClearGuide Wealth. Based in the Chicagoland area, Erickson transferred to Avantax after eight years with Edward Jones, where he had approximately $143 million in client assets under administration as of July 30, 2024.