Tag: M&A

Now that the deal has been formally approved, integration is expected to take between 18 to 36 months to complete following the close.

Financial services industry merger and acquisition activity has been affected the by coronavirus crisis, but deals continue to be inked—especially among firms looking to serve the needs of registered investment advisers.

With the acquisition of AdvisorEngine, Franklin Templeton expects to enable its independent adviser partners to efficiently deliver goals-based financial planning at scale—including in the retirement plan context.

The digital wealth management platform serves some 1,200 financial advisory firms across the United States that collectively manage over $600 billion in assets.

As market volatility and the COVID-19 pandemic unfolded in March, merger and acquisition activity slowed, raising the obvious question of how the record pace of deals will be affected by the coronavirus pandemic.

The federal government will provide itself 30 additional days to review economically significant mergers and acquisitions—which include for example the purchase of TD Ameritrade by Charles Schwab.

The retirement planning business is a people business.

For some years now, advisory firm owners have enjoyed a sellers’ market that has spurred record merger and acquisition volumes.

According to the firms, part of the rationale behind the move is that it combines two highly complementary businesses into a technology-enabled global platform that is more relevant and responsive to client needs.

High-end brokerage firms are seeing the appeal of being able to serve the middle and mass affluent markets, thanks in large part to the success of Fidelity and Charles Schwab.

One source says the discount brokerage industry of the previous decade is being “merged away,” and that this latest M&A transaction could raise anti-trust scrutiny on other ongoing deals.

CAPTRUST has continued its serial acquisitions, but the biggest merger and acquisition news of early 2020 has been the acquisition of Legg Mason by Franklin Templeton.

With the acquisition, Franklin Templeton will preserve the autonomy of Legg Mason’s affiliates, ensuring that their investment philosophies, processes and brands remain unchanged.

The team of 10 employees, including five advisers, joins CAPTRUST’s wealth management practice, adding $654 million in assets under management.

In a statement to their clients, it was noted that Bob DiMeo, managing partner of DiMeo Schneider, and Mark Wetzel, president of Fiduciary Investment Advisors, have known each other for decades as friends and business confidants.

The advisory, insurance and asset management industries have never been so ripe for consolidation, merger and acquisition experts agree.

Fidelity reports there were 127 registered investment adviser merger or acquisition transactions during all of 2019, which is up 44% over 2018.

The plaintiffs are concerned the combination of the two largest custodian companies in the U.S. will harm independent wealth managers as well as consumers, due to decreased competition in an already concentrated marketplace.