Articles tagged "Steve Levitt"
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Suitcases of cash for RIA M&A deals are one COVID-19 victim, as RIA buyers leverage economic uncertainty to force more risk on sellers
Sellers are still getting paid at familiar sales prices, but some of the bad old days of 'earn-outs' are back, which delays the time when they can stop worrying about firm cash flow
June 24, 2020 at 2:05 AM
HighTower spent at least $100 million to buy the love [and revenues] of its own advisors, a key sign an IPO or sale is taking shape, industry observers say
The Chicago roll-up paid top dollar to get virtually all its partners on board and to keep all dealing on the down low as it completes conversion to RIA roll-up from boutique wirehouse mode
June 10, 2019 at 11:20 PM
One year on, John Copeland's roll-up growth is slow but expectations remain steadfast for big snowball
The founder of Wealth Partners Capital Group sweet-talked AMG into spinning off WPCG to go after plentiful smaller sellers but courtships can't be rushed
June 18, 2018 at 7:52 PM
A maverick RIA and a bank walked into a bar in 2006, 2011 and 2014. It's all settling out in a 2018 M&A & spin-off pub crawl
Boston Private lets a $9-billion RIA buy itself back to free up cash to be used to roll up more bank-minded wealth managers this time around and Peter Raimondi is back in the game
May 14, 2018 at 8:05 PM
After 'thinking changed' Emigrant Bank hires new CEO to either take Mark Hurley's spot at Fiduciary Network or to head new unit that will compete head-on
With Hurley now characterized as expendable, the New York bank makes Karl Heckenberg chief-in-waiting and Harold Evensky expresses 'reservations' about Emigrant Bank power play
November 15, 2017 at 9:38 PM
Focus Financial's 'extraordinary' purchase of $16B-AUM SCS Capital and what Stone Point -- both buyer and seller in the deal -- may do to juice its investment
With Stone Point CEO Charles Davis now calling the shots, the RIA roll-up tacks to UHNW-directed RIAs, perhaps for their positioning in selling insurance
May 17, 2017 at 9:06 PM
With a reminiscent fire, Elliot Weissbluth personally leads a new charge to buy RIAs
The CEO of HighTower, with a big assist from Liz Nesvold and a $150 million line of credit, is on the prowl for large practices
March 18, 2016 at 4:44 AM
What about the 49ers, Palo Alto experiment and China led a $2.7 billion RIA to sell out, brand and all, to BNY Mellon
BNY Mellon ends up buying RIA -- and paying an extraction fee to Schwab -- after building nearby Palo Alto 6,800-square-ft. branch
February 10, 2016 at 7:40 PM
Two RIA M&A firms merge -- sort of -- when they're not competing head-to-head
Park Sutton and Advice Dynamics Partners are trying out the power of two, without too much heavy paperwork
January 19, 2016 at 6:20 PM
An $8.4 billion wealth manager emerges in Milwaukee after old RBC spinoff, Cleary Gull, finds local love
Johnson Financial Group adds 40 advisors and $2.1 billion but does a reverse branding merger
January 7, 2016 at 10:47 PM
Why the PE that helped take LPL public now controls Edelman Financial and plans to invest more heavily
Hellman & Friedman has assumed lead-player status from Lee Equity Partners, the latest move in key-man Ric Edelman's uphill quest to make himself obsolete
October 12, 2015 at 11:26 PM
After pocketing $5.2 million in 2014 comp as Ally Bank CEO, Barbara Yastine joins Lebenthal as Frank Campanale exits
Alexandra Lebenthal takes the co-CEO role of the wealth manager and she intends to woo more female advisors
September 21, 2015 at 10:01 PM
Why a suburban New Jersey bank and a white-shoe $1.3 billion RIA found love in Morrristown
A lousy lending market is stunting Beacon Trust's revenues; enter The MDE Group with its revenue-rich 200 ultra-wealthy clients
January 28, 2015 at 8:54 PM
Wanted: New CEO for Edelman Financial whose name is not Ric Edelman
As Edelman grooms his firm for a sale, the timetable to replace himself at the chief exec spot fast-forwards by years
January 23, 2015 at 8:40 PM
Marty Bicknell buys a $1.1 billion RIA that serves the mass affluent, and taps credit for the first time
In buying Vantage with borrowed funds, 'liquidity' per se was not the issue for Mariner Wealth; speed of execution was
