Advisory M&A News – 3/18/2026

Victory Capital Offers More Money to Acquire Janus Henderson  

Victory Capital Holdings Inc. increased its offer to acquire Janus Henderson, sending a letter to a special committee of the Board of Directors of Janus Henderson Group.  

The new proposal would provide Janus Henderson shareholders with $40 per share in cash and a fixed exchange ratio of 0.250 shares of Victory Capital common stock for each Janus Henderson share owned, or 31% ownership in a combined asset manager.  

Based on Victory Capital’s closing share price as of March 16, Janus Henderson shareholders would receive total consideration of $56.84 per Janus Henderson share, representing $3.26 more per share above Victory Capital’s prior proposal which Janus Henderson rejected on March 11, 2026. The updated terms also reflect a 37% premium to Janus Henderson’s unaffected share price as of October 24, 2025. 

The revised proposal reflects $1.2 billion of incremental aggregate consideration and a 16% premium to the proposal from Trian Fund Management that Janus had accepted in December. 

Victory Capital also used the letter to address misperceptions cited by the special committee relating to Victory Capital’s prior proposal. 

Janus Henderson confirmed on March 17 that the special committee received a revised, unsolicited non-binding proposal from Victory Capital.  

In consultation with its independent financial and legal advisers and consistent with its fiduciary duties, Janus Henderson’s special committee will evaluate the revised proposal and compare it to its December 21, 2025, merger agreement providing for the Company’s acquisition by Trian and General Catalyst Group Management LLC.  

Waverly Advisors Acquires McBride Financial Advisors 

Waverly Advisors LLC acquired McBride Financial Advisors, a registered investment adviser based in Seahurst, Washington. Founder Michael McBride’s firm provides wealth management services, including financial planning, retirement planning and estate and trust planning. As part of the transaction, McBride will join Waverly as a wealth adviser, bringing with him $181 million in assets under management. 

The transaction closed on March 13. Waverly had approximately $30.4 billion in AUM as of March 16, 2026.  

Summit Financial Partners With $1.2B RIA 

Summit Financial, in collaboration with New York-based private investment firm Merchant Investment Management, announced the addition of Signet Financial Management, a $1.2 billion New Jersey-based registered investment adviser.  

Signet, founded in 1988, is led by Principals Eugene Yashin, Steve Tuttle and Shawn Hirsch. The firm, which has offices in New Jersey, Virginia and Florida, advises families, individuals and business owners on comprehensive financial planning and investment management. 

Through the partnership, Signet advisers gain access to Summit’s broader platform and institutional investment resources.  

Northern Trust Taps Alyssa Quinlan to Expand Advisory Capabilities 

Northern Trust Wealth Management appointed Alyssa Quinlan as head of adviser relationships and strategic partnerships. She will report to Global Head of Sales David Albright.  

Quinlan will develop a dedicated platform that addresses the needs of collectors and their art holdings. 

Quinlan brings 25 years of experience across wealth management, private banking and fine art, and most recently served as CEO of New York-based Freeman’s Auctions & Appraisals. Earlier in her career, Quinlan held leadership roles at J.P. Morgan Chase, BMO Private Bank and Smith Barney/Citigroup Asset Management. She also served in senior positions at Leslie Hindman Auctioneers and Peterson Consulting. 

Northern Trust Wealth Management had $507.2 billion in assets under management as of December 31, 2025. 

Kestra Private Wealth, Jordan Cantrell Launch Timeless Private Wealth 

Kestra Private Wealth Services, a registered investment adviser subsidiary of Kestra Financial Inc., announced the addition of Jordan Cantrell to the firm and his launching of Timeless Private Wealth, a North Carolina-based independent advisory practice serving clients across the Southeast.  

At Timeless Private Wealth, Cantrell is building a virtual family office centered on financial planning. 

Kestra Private Wealth Services is a hybrid registered investment adviser headquartered in Austin. The firm’s platform is composed of an independent RIA and a broker/dealer across both fee- and transaction-based business models.