Added on August 2014 in M&A Issues
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Sumary: The four biggest U.S. brokerage firms are facing an exodus of employees who are finding they can make more money and save on taxes by taking their clients and starting an independent firm before they retire.
Added on August 2014 in M&A Issues
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Summary: If you’re looking for an attractive practice to buy in the next five years, you’re not alone, according to WealthManagement.com. There seem to be far more would-be buyers than sellers of advisory businesses at the moment, which gives sellers the edge. At the same time, many sellers are more interested in pursuing the best outcome for themselves and their clients than in getting the highest price for their firm.
Added on August 2014 in M&A Issues
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Summary: The wealth management landscape may be primed for a shake-up as a number of revenue-hungry banks plan to enter the business. Roughly a quarter of banks are gearing up to offer wealth management services within the next two years, according to a survey of 200 bank executives and senior banking professionals conducted this spring by American Banker and SourceMedia Research.
Added on August 2014 in M&A Issues
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Summary: New York-based Cantor Fitzgerald Wealth Partners has acquired Capital Planning Advisory Group, a Yardley, Pa.-based RIA and the sixth team to join Cantor’s wealth management business since the launch of that division last September. The team manages about $120 million in assets, according to Meridian-IQ. The acquisition brings Cantor Fitzgerald's wealth management division to just over $3 billion in assets.
Added on July 2014 in M&A Issues
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Summary:The high end of the wealth management market is a very, very good place to be right now. Valuations for advisory firms with over $500 million in assets under management are expected to escalate in the wake of this month's Boston Private Bank and Trust's $60 million acquisition of Banyan Partners -- made at what sources say was a valuation of nine times EBITDA.
