Mergers & Acquisitions

Kestra Financial Onboards $225 Million Boutique Advisory Firm Erudite Wealth Management

By Amit Chowdhry ● Sep 26, 2024

Industry-leading wealth management platform Kestra Financial announced the addition of Erudite Wealth Management, a full-service wealth management firm employing a proactive approach to serving clients through care and attention to detail.

LPL Financial Adds $655 Million Bury Financial Group

By Amit Chowdhry ● Sep 26, 2024

LPL Financial announced that the advisors with Bury Financial Group had joined LPL Financial’s broker-dealer, RIA, and custodial platforms. They reported serving about $655 million in advisory and retirement plan assets and joining LPL from Osaic.

Kestra Financial Brings In $200+ Million SZC Team

By Amit Chowdhry ● Sep 26, 2024

Kestra Financial, an industry-leading wealth management platform, announced the onboarding of SZC Financial Planning & Management (SZC Financial), a firm dedicated to providing personalized and high-touch service.

Raymond James Brings In $1 Billion Utah-Based Advisor Team

By Amit Chowdhry ● Sep 26, 2024

Raymond James announced it has welcomed financial advisors Jaden Gurney, Trevor Hanson and Jonathan Rogers to Raymond James Financial Services (RJFS) – which is the firm’s independent advisor channel – as revealed by Bill Counsman, Western division director for RJFS.

Wilde Wealth Management: $400 Million Asset Manager Drew Kliber Joins

By Amit Chowdhry ● Sep 26, 2024

Cetera Financial Group, a premier financial advisor Wealth Hub, announced that Wilde Wealth Management Group (Wilde Wealth), an independent wealth management firm that is one of the largest businesses within the Cetera Advisors community, has appointed Drew Kliber to lead its newly formed W Family Office Division. Kliber, who oversaw nearly $400 million in assets, as of September 1, 2024, joins Wilde Wealth from UBS.

Cetera Brings In $269 Million FA George Elkin

By Amit Chowdhry ● Sep 26, 2024

Cetera Financial Group, a premier financial advisor Wealth Hub, announced that advisor George Elkin has joined Cetera Advisor Networks via North Ridge Wealth Planning LLC with his nephew, Josh Elkin. And George and Josh, who provide comprehensive financial planning and investment advice to clients and have $269 million in assets under administration as of June 20, 2024, have joined Cetera from American Portfolios (an Osaic company).

Raymond James Brings In $112 Million FA Terry Medley

By Amit Chowdhry ● Sep 26, 2024

Raymond James has welcomed financial advisor Terrence “Terry” Medley to Raymond James & Associates (RJA) – the firm's employee advisor channel – in San Jose, California, as revealed by John Simmons, California regional director for RJA.

Publicis Buys Michigan-Based Mars United Commerce

By Amit Chowdhry ● Sep 26, 2024

Publicis Groupe announced the acquisition of Mars United Commerce, the world’s largest independent commerce marketing company. With 1,000+ employees based in 14 hubs worldwide, Mars helps marketers make their products consumers’ top choice in online and offline shopper systems.

LPL Financial Brings In $300 Million Bindra Group Team

By Amit Chowdhry ● Sep 26, 2024

LPL Financial announced that financial advisors Kultar S. “Sid” Bindra, CFP, and Steven Alvarez have joined LPL’s employee advisor channel, Linsco by LPL Financial, to launch The Bindra Group. And they reported serving approximately $300 million in advisory, brokerage and retirement plan assets and join LPL from Truist Financial.

Cardinal Health Buying Integrated Oncology Network In $1.12 Billion Deal

By Amit Chowdhry ● Sep 25, 2024

Cardinal Health announced that it has entered into a definitive agreement to acquire Integrated Oncology Network (ION), a physician-led independent community oncology network, for $1.115 billion in cash.

Blue Matter Buys Healthcare-Focused PR Company Sam Brown

By Amit Chowdhry ● Sep 25, 2024

Blue Matter, a consulting firm serving the life sciences industry, announced the acquisition of Sam Brown Inc., a leading integrated healthcare communications and public relations agency focused on corporate, clinical and commercial communications for the life sciences industry.

Advisory-Focused Investment Bank PJT Partners Buying deNovo Partners

By Amit Chowdhry ● Sep 25, 2024

PJT Partners has agreed to acquire deNovo Partners, a leading advisory firm focused on the Middle East and based in Dubai. This deal builds on the highly successful strategic alliance PJT Partners and deNovo entered into in 2020.

Macquarie Asset Management To Buy Minority Stake In D. E. Shaw Renewable Investments

By Amit Chowdhry ● Sep 25, 2024

Macquarie Asset Management (MAM), DESRI, and the D. E. Shaw group announced that MAM has agreed to acquire a significant minority stake in DESRI via several MAM-managed funds. These funds include Macquarie Global Infrastructure Fund (MGIF), Macquarie Green Energy and Climate Opportunities Fund (MGECO), and Macquarie Energy Transition Infrastructure Fund International (METI).

True North Advisors Acquires $470 Million Clear Rock Advisors Team

By Amit Chowdhry ● Sep 25, 2024

True North Advisors, a Texas-based registered investment adviser (RIA) with $3.9 billion in Assets Under Management (AUM), has acquired Clear Rock Advisors, a wealth management and investment firm managing approximately $470 million in AUM with offices in Dallas, Austin, and Kerrville, Texas.

Why OYO Is Buying G6 Hospitality From Blackstone Real Estate For $525 Million

By Amit Chowdhry ● Sep 25, 2024

Oravel Stays (the parent company of the global travel technology company OYO) announced that it has agreed to acquire G6 Hospitality—the leading economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands—from Blackstone Real Estate for $525 million in an all-cash deal.

Smartsheet To Be Acquired By Blackstone And Vista Equity For $8.4 Billion

By Amit Chowdhry ● Sep 24, 2024

Smartsheet - an enterprise platform for modern work management - announced that it has entered into a definitive agreement to be acquired by funds managed by Blackstone and Vista Equity Partners in an all-cash transaction valued at about $8.4 billion.

Castlelake Selling $5 Billion Aircraft Portfolio To Avolon

By Amit Chowdhry ● Sep 24, 2024

Global alternative investment manager Castlelake announced it has entered into a sale-purchase agreement with leading global aviation finance company Avolon to sell a $5 billion, 118-aircraft portfolio held by Castlelake Aviation Limited (CA Ltd.).

EP Wealth Advisors Acquires $1.1 Billion CornerCap Investment Counsel Team

By Amit Chowdhry ● Sep 24, 2024

EP Wealth Advisors - a leading fee-only registered investment adviser (RIA) with an expanding national footprint and client base - announced it has acquired Atlanta-based CornerCap Investment Counsel. This partnership added nearly $1.1 billion to EP Wealth’s assets under management (AUM).

LPL Financial Brings In $700 Million BrookBridge Private Wealth Team

By Amit Chowdhry ● Sep 19, 2024

LPL Financial announced that private client advisor John Duane and portfolio manager Gregory Giantsos have joined LPL Financial’s high-net-worth-focused employee affiliation model, LPL Private Wealth Management, to launch BrookBridge Private Wealth based in Long Island, New York. The team reported having served approximately $700 million in advisory, brokerage, and retirement plan assets and joining LPL from Bank of America Private Bank.

LPL Brings In $650 Million Apex Private Wealth Advisors Team

By Amit Chowdhry ● Sep 19, 2024

LPL Financial announced that financial advisors Brett Howard, CTFA, AAMS, APMA, CRPC, Marco Rivera, APMA, Brooks Crissey, CFP, APMA, Henry “Hank” DesJardins, and Ryan Mason had joined LPL Financial’s broker-dealer, RIA, and custodial platforms. And they reported serving about $650 million in advisory, brokerage, and retirement plan assets and join LPL from Ameriprise Financial.

CACI To Buy Azure Summit Technology In $1.275 Billion Deal

By Amit Chowdhry ● Sep 16, 2024

Wealthspire Advisors Brings In Judith Heft & Associates Team

By Amit Chowdhry ● Sep 16, 2024

Wealthspire Holdings, the parent company of Wealthspire Advisors, an NFP company and top-ranked independent registered investment advisor (RIA), announced the acquisition of Judith Heft & Associates, which is a women-owned firm that provides high-touch lifestyle and bill pay services to affluent clients and their families.

Outdoor Living Supply Buys Majestic Stone Landscape & Stucco Supply

By Amit Chowdhry ● Sep 16, 2024

Outdoor Living Supply (OLS), a distribution platform focused on outdoor living products and solutions, announced that it has acquired Majestic Stone Landscape & Stucco Supply, a full-service distributor of manufactured and natural stone, hardscape, and landscape products. This deal expands OLS’ footprint in the Southeast, adding two strategic locations in the Georgia market.

Gearset Buys Salesforce-Focused Code Analysis Company Clayton

By Amit Chowdhry ● Sep 16, 2024

Gearset, a leader in Salesforce DevOps solutions, announced the acquisition of Clayton, a code analysis platform designed specifically for Salesforce. This strategic acquisition is Gearset’s first following years of rapid growth, driven by a $55 million growth investment from Silversmith Capital Partners. During that time, Gearset has launched several products and upgrades, reaching the milestone of surpassing 2,500 customers — four times more than any other Salesforce DevOps vendor.

SCF Partners Buys Geothermal Fluids Solution Provider Newpark Fluids Systems

By Amit Chowdhry ● Sep 16, 2024

SCF Partners announced the acquisition of the Newpark Fluids Systems business (NFS), a leading global pure-play oil and gas and geothermal fluids solution provider, from Newpark Resources. Newpark Fluids Systems offers a full range of drilling and completion products and related technical services supported by an innovative digital modeling software suite, global supply chain, and infrastructure to enhance customers’ performance efficiency and productivity.

Cetera Brings In Innovative Premier Financial Services Team

By Amit Chowdhry ● Sep 12, 2024

Premier financial advisor Wealth Hub Cetera Financial Group announced that a seven-person team led by a husband and wife duo doing business as Innovative Premier Financial Services (IPFS) has joined Cetera Wealth Partners. Headed by Managing Partners David and Kate Frank, the team offers comprehensive financial planning and investment advice to approximately 500 clients. IPFS serves clients who are focused not just on the accumulation of wealth but also on legacy, estate, and business planning.

Mastercard Buying Global Threat Intelligence Company Recorded Future For $2.65 Billion

By Amit Chowdhry ● Sep 12, 2024

Today, Mastercard expanded its cybersecurity services with an agreement to acquire global threat intelligence company Recorded Future from Insight Partners for $2.65 billion. The acquisition supports the insights and intelligence used to secure the digital economy, including the payments ecosystem and beyond.

Mercer Advisors Brings In $412 Million Benchmark Wealth Management Team

By Amit Chowdhry ● Sep 11, 2024

Mercer Global Advisors - a national Registered Investment Adviser (RIA) - announced the acquisition of Benchmark Wealth Management.

Moody’s Buys Casualty Insurance Analytics Company Praedicat

By Amit Chowdhry ● Sep 11, 2024

Moody’s announced that it had acquired Praedicat, a leading provider of casualty insurance analytics. This acquisition adds comprehensive casualty and liability modeling to Moody’s range of market-leading solutions for the insurance industry, enhancing its overall risk assessment strategy.

Indus Valley Partners Buys Alt Investment Software Company IntegriDATA

By Amit Chowdhry ● Sep 11, 2024

Indus Valley Partners (IVP), a global provider of software and technology solutions to the world’s most sophisticated investment managers backed by PPC Enterprises (PPC), which is a specialist middle-market private equity firm and minority investor in IVP, announced that it has agreed to acquire IntegriDATA, a leader in alternative investment software solutions. The terms of the deal were undisclosed.