Added on July 2014 in M&A Issues
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Summary: Boston Private Bank and Trust Co. announced that it will pay $60 million in cash and stock to purchase Banyan Partners LLC, creating a $9 billion-plus AUM RIA roll-up hungry to acquire.
Added on July 2014 in M&A Issues
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Summary: The latest move by Boston Private Bank & Trust Co. into the investment advice space — a plan to buy a $4.3 billion Florida registered investment adviser — should be enough to alert well-run advisory firms that it's a seller's market.
Added on July 2014 in M&A Issues
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Summary: Boston Private Bank, a subsidiary of Boston Private Financial Holdings, on Wednesday acquired Florida-based Banyan Partners in a $60 million cash and stock deal.Wednesday’s deal adds more than $25 million of annual fee-based revenue and the combined operation will have approximately $9 billion in client assets under management and advisement, making it one of the largest wealth management companies in the U.S., according to Clayton G. Deutsch, CEO and President of BPFH.
Added on June 2014 in M&A Issues
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Summary: At first blush, accountants and financial advisors appear to make strange bedfellows. The former are often perceived to be more analytical and the latter, more entrepreneurial. These perceptions aside, many medium to large accounting firms have taken steps to establish or greatly expand their financial services practices.
Added on June 2014 in M&A Issues
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Summary: In wealth management, an increasing number of financial advisers need an exit strategy. The combination of an aging demographic and fewer entrants into the field creates both challenges and opportunities. Acquiring a new business could be the perfect way for younger advisers to catapult their business to the next level.
