Deals & People

Piper Jaffray to Acquire Money Manager

Piper Jaffray Companies announced the signing of a definitive agreement to acquire Fiduciary Asset Management, LLC, a St. Louis-based investment management firm, for approximately $66 million in cash.

Salient Joins Fidelity’s Ring of RIAs

Salient Wealth Management LLC will now be included in Fidelity Investments’ Wealth Advisor Solutions, which gives customers of the financial services firm the opportunity to build relationships with Fidelity’s network of registered investment advisers.

VisionLink Joins M Financial Group

California-based VisionLink Corporate Insurance Services, LLC (VCIS) has become a member firm of M Financial Group, a network of independent insurance, investment, and executive benefit firms.

State Street Reshuffles Financial Intermediary Division

The investment management arm of State Street Corporation is making some changes to the structure of its financial intermediary group, which was created in 2001 to service investors such as financial advisers, broker-dealers, registered investment advisers (RIAs), and family offices.

NRP Acquires Ohio B/D

National Retirement Partners, Inc. (NRP), announced its acquisition of Bryan, Ohio-based broker/dealer Oberlin Financial Corp.

S&P Sells Fund Data Biz to Morningstar

Standard&Poor's is selling its mutual fund data business to Morningstar, including mutual fund data on performance, rankings and holdings on more than 135,000 funds in over 30 countries, as well as desktop applications and data feed products, for $55 million in cash.