Archives

BIP Wealth Acquiring The Money Advisor Group, Bringing AUM To $3.3+ Billion

By Amit Chowdhry ● May 8, 2024

The Money Advisor Group, LLC (TMAG), a Registered Investment Advisor (RIA) specializing in investment management and retirement planning, announced it had signed a deal to be acquired by Atlanta-based RIA, BIP Wealth, through its new BIP Alliance initiative. BIP Wealth offers investment management and sophisticated planning solutions for high-net-worth individuals and families, institutional clients, and corporate retirement plans.

LPL Financial Brings In $240 Million Guardian Partners Wealth Management Team

By Amit Chowdhry ● May 8, 2024

LPL Financial announced that financial advisors Mitchell “Mitch” and Wesley “Wes” McCann have joined its broker-dealer, RIA, and custodial platforms. They reported serving approximately $240 million in advisory, brokerage, and retirement plan assets and joined LPL from Ameriprise.

Cache DNA: Seed Funding Raised To Transform Biological Sample And Data Storage Infrastructure

By Amit Chowdhry ● May 8, 2024

Cache DNA, a life sciences company transforming biological sample and data storage infrastructure, announced the closing of its seed round. The team raised an undisclosed amount from notable investors such as Climate Capital Bio, Exor Ventures, Hawktail, LifeX Ventures, Pillar VC, and Trousdale Ventures, including support from Illumina and founders such as Alec Nielsen.

Nudge Security Raises $16.5 Million To Help Manage SaaS Security And Governance At Scale

By Amit Chowdhry ● May 8, 2024

Nudge Security, a leading provider of modern SaaS security and governance, announced new funding from Forgepoint Capital. This funding, which joins Ballistic Ventures, brings the startup's seed funding to $16.5 million. Forgepoint Co-Founder and Managing Director Alberto Yépez will join the Nudge Security board in connection with the funding round.

Akamai To Buy Noname Security In $450 Million Deal

By Amit Chowdhry ● May 8, 2024

Akamai Technologies, a cloud company that powers and protects life online, announced that it has entered into a definitive agreement to acquire application programming interface (API) security company Noname Security.

Ropes & Gray Adds Former Assistant U.S. Attorney Sarah Walters As Partner In Boston Office

By Amit Chowdhry ● May 8, 2024

Law firm Ropes & Gray announced it expanded its award-winning litigation & enforcement practice again with the arrival of former federal prosecutor and experienced trial lawyer Sarah Walters as a partner in the firm’s Boston office.

DLA Piper Adds David Kreisler As Partner In Investment Funds Practice

By Amit Chowdhry ● May 8, 2024

DLA Piper announced it welcomes David Kreisler as a partner in the firm’s Investment Funds Practice. And he will be based in the firm’s Boston office.

Lincoln Financial Completes Sale Of Wealth Management Business To Osaic In $650 Million Deal

By Amit Chowdhry ● May 8, 2024

Lincoln Financial Group announced that it has completed the sale of its wealth management business, including all ownership interests in the Lincoln subsidiary entities comprising that business, to Osaic - one of the nation’s largest providers of wealth management solutions. And the sale also provides Lincoln with about $650 million of capital benefit - which the company will use primarily to increase its risk-based capital ratio. Lincoln also plans on using part of the capital benefit to reduce its leverage ratio.

Docusign Buying Lexion In $165 Million Deal

By Amit Chowdhry ● May 8, 2024

Docusign announced it has agreed to buy Lexion for $165 million in cash, subject to customary conditions. Lexion's simple agreement workflow platform has helped companies streamline and centralize the contracting process by using AI. Lexion customers include in-house legal teams and users across sales, procurement, finance, marketing, HR, etc.