Added on September 2014 in M&A Issues
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Summary: Lucia Capital Group, led by former LPL Financial (LPLA) executive Derek Bruton, says it has inked its first acquisition.On Wednesday, the San Diego-based wealth management firm said it had signed a deal to buy the managed equity and fixed income accounts of West Coast Asset Management, an independent RIA in Santa Barbara, Calif., with some $170 million in client assets that uses Charles Schwab (SCHW) as its custodian
Added on September 2014 in M&A Issues
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Summary: A couple of years ago, the principals of two high-profile financial advisory firms, one from Virginia, one from Chicagoland, were looking across a desk at one another pondering a merger of their firms when they came to a moment that almost crashed the whole thing.
Added on September 2014 in M&A Issues
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Summary: Finding the right "fit," is the single most important factor in successfully buying or selling a financial planning practice, says a consultant who works with planners looking for a deal.
Added on September 2014 in M&A Issues
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Summary: Investment banks, custodians and boutique lenders are starting to rally behind independent RIAs in need of capital for merger deals, according to Institutional Investor.
Added on September 2014 in M&A Issues
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Summary: NFP Advisor Services, which provides technology, service and asset management platforms to financial advisors, including RIAs and hybrids, and is a business segment of NFP, a leading provider of benefits, insurance and wealth management services, today published the results of a study that reveals what separates an alpha acquisition (one in which advisors rated “very satisfied”) from non-alpha and near-alpha acquisitions.
