M and A
Daily News Analysis
12 June 2013
John Hancock, part of Manulife Financial, is acquiring Washington-based Symetra Investment Services from Symetra Financial Corporation for an undisclosed amount. Symetra, a dual-registered broker-dealer and investment advisor, will become affiliated with John Hancock Financial Network, which has 1,600 registered representatives through its broker-dealer and investment advisor, Signator Investors . JHFN said its affiliated advisors have access to an integrated technology platform, defined contribution resources and a practice management team, among other resources.
11 June 2013
Deutsche Asset & Wealth Management has ruled out buying rival businesses to grow its asset base although it has a stated desire to boost assets run in a passive manner by more than half over the next 18 months, the Financial Times quoted a senior executive as saying. Reinhard Bellet, head of Deutscheís passive fund business, said he expects rapid asset growth for the unit following its integration into Deutsche Asset & Wealth Management from the bankís corporate and investment banking arm last year . Bellet told a press conference: ďOur goal is pretty ambitious.
6 June 2013
Personal Capital, the online wealth management service, has closed a $25 million round of financing, bringing in BlackRock and Crosslink Capital as investors. Existing investors Institutional Venture Partners and Venrock also participated in the series C financing . The Silicon Valley-based firm is planning to use the funding to ramp up its staff base and grow its business.
6 June 2013
SpringReef Partners, the consulting firm founded by wealth management veteran Doug Black in 2010, has been acquired by Aronson. SpringReef offers independent guidance to high net worth individuals and families during the process of finding and selecting a wealth management firm . The firm also works with clients to review the quality and performance of their current wealth managers, and advises on the appropriate fees they should be paying for advice and products.
4 June 2013
Banyan Partners, a registered investment advisory firm based in Palm Beach Gardens, FL, is acquiring Boston-based wealth manager Silver Bridge Advisors for an undisclosed amount. Silver Bridge is currently majority-owned by the law firm Wilmer Cutler Pickering Hale and Dorr . Banyan is privately and employee-owned.
11 April 2012
Firms originating in Silicon Valley are bringing their technological expertise to bear on wealth management services in a bid to make these more widely available at lower cost: should the industry be wary or encouraged?
21 February 2012
LPL Investment Holdings is prepared to pour money into Fortigent - even if it means forgoing profits for several years - in order to eventually accelerate revenues and establish market leadership, LPL chief executive Mark Casady told Family Wealth Report.
17 February 2012
Fortigentís top management isnít going anywhere as a result of its impending acquisition by LPL, the wealth management outsourcing firmís president and chief executive Andrew Putterman reassured clients gathered yesterday in Savannah, GA.
2 February 2012
Rosalyn Breedy, of Breedy Henderson Solicitors, continues her survey of the regulatory landscape for family offices and considers whether private investors will be better protected under regimes such as Dodd-Frank and the AIFMD, with a focus on developments in the UK and Cayman Islands.
20 January 2012
A new type of firm, created by financial services veteran Doug Black, is looking to sort the wheat from the chaff when it comes to ultra high net worth wealth management.
News and Features
Comment and Analysis
The annual RBC Wealth Management/Capgemini World Wealth Report also showed that North America, which in 2011 had lost its top-dog status to Asia-Pacific, is now back as the place with the largest high net worth market.
18 June 2013
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
20 March 2013
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
4 April 2013
The period between 2008 and 2012 saw an uptick in risk reviewing business at New Yorkís Rothstein Kass Family Offices Group, says partner Evan Jehle.
9 April 2013
Building functionality into a familyís business affairs involves defining each personís role but itís never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
8 April 2013
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
25 March 2013