Mergers & Acquisitions

Sequoia Financial Group Acquires Family Asset Management

By Amit Chowdhry ● Nov 10, 2024

Akron, Ohio-based Sequoia Financial Group — a wealth management firm with $21.5 billion in assets under management as of September 30, 2024 — and Family Asset Management (FAM), a Charleston, South Carolina-based investment advisory firm, announced that Sequoia Financial acquired FAM. The terms of the deal were undisclosed.

Diversify Advisor Network Onboards $215 Million Asset Teams

By Amit Chowdhry ● Nov 10, 2024

Diversify Advisor Network has announced the addition of two advisor teams during October: Michael McHugh and Griffin Wealth Partners.

Cyndeo Wealth Partners Onboards $200 Million FA Shawn Jiles

By Amit Chowdhry ● Nov 10, 2024

Cyndeo Wealth Partners announced that Shawn Jiles, CPFA, C(k)P, CRPS, CRPC has joined the firm as a Central Florida-based advisor managing about $200 million in assets.

FREYR Battery Signs $340 Million Deal With Trina Solar

By Amit Chowdhry ● Nov 10, 2024

Trina Solar announced that it has entered into a transaction agreement with FREYR Battery. The deal includes a 5GW module manufacturing plant in Wilmer, Texas, and is expected to be completed by the end of the year.

Wealth Enhancement Group Buys $536 Million RIA M&R Capital Management

By Amit Chowdhry ● Nov 10, 2024

Wealth Enhancement Group - a national independent wealth management firm with over $96.6 billion in client assets - announced the acquisition of M&R Capital Management, an independent RIA in Summit, New Jersey. The team of three financial advisors and three support staff oversees over $536 million in client assets and is led by John Maloney, Chairman and Chief Executive Officer.

LPL Onboards $165 Million GWC Financial Team

By Amit Chowdhry ● Nov 10, 2024

LPL Financial announced today that financial advisor Michael Bernier, CFP, AIF, has joined LPL’s employee advisor channel Linsco by LPL Financial to launch GWC Financial Advisors. And he reported serving approximately $165 million in advisory, brokerage and retirement plan assets and joins LPL from Canter Wealth. He will operate from the Linsco office in San Diego.

Evoke Advisors Buys Crescent Bay To Create Comprehensive RIA Family Office Firm

By Amit Chowdhry ● Nov 9, 2024

Evoke Advisors - a $25.3 billion registered investment advisory firm - announced the strategic acquisition of the business of Crescent Bay Advisors (CBA), a multi-family office. This acquisition will enhance Evoke's current service offerings and allow the firm to offer a full range of family office services to their clients, which include ultra-high net-worth families and individuals. This combined firm is headquartered in Los Angeles with additional office locations in Orange County, California, and West Palm Beach, Florida.

Why nCino Is Buying FullCircl For $135 Million

By Amit Chowdhry ● Nov 7, 2024

nCino - a leading provider of intelligent banking solutions - announced that it has entered into a definitive agreement to acquire FullCircl. FullCircl is a leading UK-based SaaS platform, which was built to help financial institutions and regulated companies grow revenue, automate and accelerate onboarding, and improve client lifecycle management by removing regulatory and verification roadblocks.

UScellular Selling Select Spectrum Assets To AT&T In $1.018 Billion Deal

By Amit Chowdhry ● Nov 7, 2024

Today, United States Cellular Corporation (USM) announced that it has entered into an agreement with AT&T (T) to sell a portion of the Company's retained spectrum licenses for a total consideration of $1.018 billion.