Articles tagged "ECHELON Partners"
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Big RIA buyers flock to ECHELON M&A event and agree on one takeway: It's a 'seller's market' -- but maybe not forever
Cerity, Mercer and Summit Trail chiefs say tripling of practice buyers means multiples are staying flush, but they urge some caution to on-the-fence RIA sellers.
August 30, 2024 at 5:25 AM
Tight with Goldman Sachs and light on debt, Peter Mallouk sets 'no upper limit' on 2025 M&A ambitions and is 'very interested' in buying super-peer RIAs worth billions
The Creative Planning CEO put Goldman's PFIM under contract one year ago, and merger experts say the firm's exceptional buying power -- low debt and high cash flow -- puts any RIA into play for him.
August 24, 2024 at 2:07 AM
Michael Nathanson's new post as Focus CEO could create an 'apparent conflict' with his duties at Colony Group, which is snapping up billions in Focus RIA assets -- but 'partners' now have one of theirs in the power seat
The CEO of Colony, the $22-billion Boston RIA, is buying $10.4-billion GW & Wade from Focus, making him buyer and seller, as he takes the reins as first permanent Focus CEO since Rudy Adolf.
May 1, 2024 at 3:02 AM
Fisher Investments is again part of a public firestorm after media heavyweights report it has entered sale talks; Fisher fires off heated denial, but one analyst still sees smoke on the horizon
The Plano, Texas RIA with $236 billion of AUM -- worth perhaps $10 billion -- flamed The Wall Street Journal for anonymously sourced report, without checking with firm, but did not condemn nearly identical Bloomberg report.
January 4, 2024 at 2:37 AM
Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn
Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.
October 4, 2023 at 2:16 AM
AMG unloads $17B Veritable after 11 years of metric stagnancy, which may explain the bargain price Pathstone is paying -- and the wholesale rollovers of principals
The $668-billion asset manager rollup in West Palm Beach, Fla. is dumping a remnant of its RIA rollup -- with cash proceeds of just $294 million
July 20, 2023 at 3:49 AM
Rudy Adolf dodges questions on Focus Financial earnings call, possibly because one inconvenient question overhangs a PE firm's $53 share price offer
The New York City rollup CEO said take-private negotiations precluded answering analyst questions; one big question is why the company accepted a $53-a-share offer only 4.5 years past its IPO
February 22, 2023 at 2:42 AM
Shirl Penney lands hot cash in cold market, raising $100 million (says source) to 'charge onto the offensive' as competitors 'hunker down' under debt
The CEO and co-founder of Dynasty Financial Partners salves IPO pain by cobbling cash from existing backers, a Boston private equity firm, Abry, and even RIA custody partner, Schwab, at valuation near $500 million.
December 20, 2022 at 2:37 AM
Dan Seivert's ripping success in RIA M&A deals has odd side effect of having some sidearm staff leave for new vistas
Carolyn Armitage and Mark Bruno left to mutual benefit, while Echelon Partners roars on, feeding the beast of deal-crazed RIA buyers and sellers.
July 20, 2021 at 1:17 AM
Dan Seivert and Mark Tibergien karate chop private equity investors for being little more than financial engineers in RIA orbit
The CEO of ECHELON and the CEO of Pershing Advisor Solutions describe the investors like hedge funds that make savvy purchases of depleted oil wells
October 8, 2018 at 7:22 PM
Ric Edelman's RIA empire to merge with legacy The Mutual Fund Stores in $3-billion deal that takes Financial Engines private
Hellman & Friedman stake the eye-popping sum in cash to outright own an RIA with nearly $195 billion of AUM including robo-advised 401(k) assets
April 30, 2018 at 11:57 PM
HighTower Advisors lands $4.5-billion RIA with help from bigger, better checkbook
The Chicago RIA roll-up adds 45-employee Salient with T.H. Lee omnipresent in shepherding the UHNW deal
April 17, 2018 at 3:25 PM
Parthenon Capital buys Simply Money, adds it to Hanson McCain, and 'presto' a $3.3 billion radio show-based RIA roll-up rises
The PE firm already knew principals Nathan Bachrach and Ed Finke who bring $700-million-plus AUM from Simply Money generated largely by their daily broadcast
January 6, 2018 at 1:21 AM
Marty Bicknell sells Tortoise stake for '$150 million' with cash already earmarked for four or five RIA purchases
Mariner Holdings CEO banks tidy gain as he dumps his 67% stake in $20 billion-AUM Tortoise that had just $1.3 billion of AUM when he bought it
October 23, 2017 at 10:08 PM
After storming PIMCO, Dan Seivert puts LA on RIA map with high-aptitude Summit
Appropriating the bond giant's Newport Beach headquarters was a masterstroke that took the investment banker's 'deal' event to an RIA MBA cram course
