Mergers & Acquisitions

Summit Financial Onboards Teams Representing $470 Million In Assets

By Amit Chowdhry ● Sep 30, 2024

Summit Financial - an investment advisory firm with over 40 years of experience offering market-leading, multi-family office services that empower financial advisors to accelerate growth, announced that advisors from two firms, BFG Wealth and Canon Capital Wealth Management have joined Summit.

AT&T Selling Stake In DIRECTV To TPG For $7.6 Billion

By Amit Chowdhry ● Sep 30, 2024

AT&T announced that it will be selling its 70% stake in DIRECTV to private equity firm to TPG for $7.6 billion. AT&T bought DIRECTV in 2015 and signed a joint venture agreement with TPG a few years ago. TPG paid about $1.8 billion in cash for a 30% stake in DIRECTV when the valuation of the satellite TV company was around $16 billion.

LPL Financial Brings In $400 Million 57th Street Wealth Advisors Team

By Amit Chowdhry ● Sep 30, 2024

LPL Financial announced that financial advisors Ken Hutkin and Ron Winkler have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch 57th Street Wealth Advisors. And they reported serving approximately $400 million in advisory, brokerage and retirement plan assets* and join LPL from Wedbush Securities. They will operate the first Linsco office in New York City.

The Retirement Planning Group Brings In $185 Million Parrott Wealth Team

By Amit Chowdhry ● Sep 30, 2024

Cetera Holdings, the parent company of Cetera Financial Group (the premier financial advisor Wealth Hub), announced that Cetera's employee-based RIA, The Retirement Planning Group (TRPG), has acquired Parrott Wealth Management.

LPL Financial Onboards $150 Million GreenPoint Wealth Management Team

By Amit Chowdhry ● Sep 30, 2024

LPL Financial announced that financial advisors Jeff Minucci, CFP, and David Ryzman, CFP, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported having served approximately $150 million in advisory, brokerage, and retirement plan assets and joined LPL from Osaic.

John Paul DeJoria Acquires Waterloo GIn

By Amit Chowdhry ● Sep 30, 2024

Passionate entrepreneur and philanthropist John Paul DeJoria - a self-made billionaire founder of Patrón Tequila and Paul Mitchell hair care - announced the purchase of Waterloo Gin, the first gin brand distilled in Texas. Developed by Treaty Oak Distilling in Dripping Springs, Texas, near Austin, Waterloo Gin launched in 2009 (named after Austin's original name Waterloo) before the city was rechristened in the 1830s for Texas pioneer Stephen F. Austin.

Aegis Consulting Onboards $600 Million Commonwealth Team

By Amit Chowdhry ● Sep 30, 2024

Commonwealth Financial Network, a national firm dedicated in providing financial advisors with integrated business solutions has welcomed Jacksonville, Florida-based Aegis Consulting to its network of affiliated advisors in 2023. And 18 months later, Aegis nearly doubled its client assets to nearly $2 billion and has grown its advisor team from 9 to 17, including its newest additions, Mark O’Sickey and Paul Solorzano, CFP.