RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

How 3 wealth managers at Goldman Sachs parlayed a $1 billion book of business into a $125-million payday -- after doing it once before for $217 million

Todd Morgan sold his practice to State Street the first time, bought it back and is now selling to an entity partially owned by the National Bank of Canada

Author Brooke Southall September 5, 2013 at 3:37 AM
Admin:
no description available
Todd Morgan: It wasn't our fault it didn't work out the first time. We would have preferred to stay.

Related Moves

Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance

Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.

March 25, 2023 at 1:32 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


Mentioned in this article:

State Street Wealth Manager Services
Asset Custodian
Top Executive: Marty Sullivan

Silver Lane Advisors
Mergers and Acquisition Firm
Top Executive: Elizabeth Nesvold




Jeff Spears

Jeff Spears

September 5, 2013 — 5:29 PM

These deals prove that the scarce commodity that drives high deal prices are the professional capabilities of the professionals NOT the brands of the firms that they work for OR that buy them.

I’m ready for round 3!

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo