Articles tagged "David Devoe"
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David DeVoe brings M&A elite to Las Vegas, but dealmaking took a back seat to RIA people crisis and the 13X-valuation elephant in the room
The self-disciplined M&A crowd discussed pre-deal sausage-making, which left little room for managerial hot-dogging.
May 24, 2022 at 8:29 PM
As Thomas H. Lee Partners asserts itself, Dave Pottruck steps down as chairman of HighTower's board of directors
The early investor and ex-Schwab CEO is giving ground to the new ownership
April 20, 2018 at 7:01 PM
Stone Point and KKR buy Focus Financial for $2 billion by employing massive leverage
PE giants with loans of about $1 billion -- psyched that the roll-up's roll flow is snowballing in 2017 -- cash out Centerbridge, Polaris, Summit, several advisors and employees
April 19, 2017 at 4:39 AM
HighTower picks up $6.4-billion roll-up on the cheap but the valuation may reflect WealthTrust's stagnant growth and profitability
The Chicago roll-up gets an embattled league of RIAs for about $70 million by persuading its financiers to double down and private equity owners to suck it up
April 13, 2017 at 11:35 PM
HighTower parts ways with -- and doesn't replace -- the dealmaker who has 'worked on more breakaway transactions ... than anyone in the industry'
Elliot Weissbluth's gun-slinging No. 2, Mike Papedis, moves on after HighTower's assets declined, deals waned and the once-loud company took on an indoor voice
March 21, 2017 at 9:53 PM
After sticking his own succession landing, Tim Kochis bags 'retirement' and joins forces with DeVoe & Co. to help other RIAs do same
Tim Kochis helped David DeVoe with his business plan and may become a shareholder as soon as next year
March 13, 2017 at 6:09 PM
How Tiedemann and Presidio did a no-cash merger of their $4.9 billion and $4 billion RIAs -- and their disarming honesty about jitters
A restructuring by Presidio's stricken CEO's deputy paved the way for a 'non-threatening' union in which all principals keep their equity
August 16, 2016 at 9:05 PM
Report: Focus Financial is preparing SEC paperwork for its initial public offering -- but is it jumping the gun?
With $325 million in revenues, the jumbo New York roll-up seeks to assuage a host of liquidity challenges
July 7, 2015 at 3:36 PM
Mark Hurley's new report analyzes the pathology of the aging RIA and the illiquidity it exacts
The leveraged buyout specialist posits thousands of principals trapped in their practices, unable to sell, victims of psychological unpreparedness
May 14, 2015 at 4:57 PM
Why AMG's poach of Rich Gill could be the missing ingredient for its V-8 roll-up engine
Loaded with cash, experience and $11.5 billion of market cap, the North Shore asset manager just downloaded the RIA roll-up app in hiring the Focus Financial veteran
July 22, 2014 at 6:48 PM
Bankers show muted confidence in competing with RIAs, Fidelity study shows
The projections from the most optimistic set of bankers predicts sub-5% growth annually, even on steep part of growth curve
March 6, 2014 at 9:32 PM
A $1.2-billion RIA is born on the Rt. 128 altar as two $600-million-AUM firms -- one in hyper-growth mode by Fidelity referrals -- get hitched
Spawned from an away breakfast, the deal of Argent Wealth Management and Pillar Financial Advisors financed a succession, forestalled death on the vine and set the stage for accelerated growth
November 15, 2013 at 8:25 PM
How Matt Cooper is getting past the 'oh, sure' factor that came from a slow roll-out of ... the other Newport Beach roll-up
Not only are deals picking up at the $900-million Beacon Pointe Wealth Advisors but existing advisors are telling success stories that can be quantified
October 4, 2013 at 6:27 AM
What happened when Fidelity Investments called 25 deal-making protagonists to its Boston sanctum for a talk about the suboptimal RIA M&A market
David Canter recounts what his company set out to do, who showed up and what the pooling of ideas yielded
September 30, 2013 at 5:38 PM
AMG delves deeper into the RIA business with second deal -- of $4-billion player in NY
Its purchase of a stake in Clarfeld Financial Advisors, Barron's No. 3, shows the Veritable deal was, indeed, a warm up
