Articles tagged "ECHELON Partners"
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Rudy Adolf dodges questions on Focus Financial earnings call, possibly because one inconvenient question overhangs a PE firm's $53 share price offer
The New York City rollup CEO said take-private negotiations precluded answering analyst questions; one big question is why the company accepted a $53-a-share offer only 4.5 years past its IPO
February 22, 2023 at 2:42 AM
Shirl Penney lands hot cash in cold market, raising $100 million (says source) to 'charge onto the offensive' as competitors 'hunker down' under debt
The CEO and co-founder of Dynasty Financial Partners salves IPO pain by cobbling cash from existing backers, a Boston private equity firm, Abry, and even RIA custody partner, Schwab, at valuation near $500 million.
December 20, 2022 at 2:37 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
Dan Seivert and Mark Tibergien karate chop private equity investors for being little more than financial engineers in RIA orbit
The CEO of ECHELON and the CEO of Pershing Advisor Solutions describe the investors like hedge funds that make savvy purchases of depleted oil wells
October 8, 2018 at 7:22 PM
Ric Edelman's RIA empire to merge with legacy The Mutual Fund Stores in $3-billion deal that takes Financial Engines private
Hellman & Friedman stake the eye-popping sum in cash to outright own an RIA with nearly $195 billion of AUM including robo-advised 401(k) assets
April 30, 2018 at 11:57 PM
HighTower Advisors lands $4.5-billion RIA with help from bigger, better checkbook
The Chicago RIA roll-up adds 45-employee Salient with T.H. Lee omnipresent in shepherding the UHNW deal
April 17, 2018 at 3:25 PM
Parthenon Capital buys Simply Money, adds it to Hanson McCain, and 'presto' a $3.3 billion radio show-based RIA roll-up rises
The PE firm already knew principals Nathan Bachrach and Ed Finke who bring $700-million-plus AUM from Simply Money generated largely by their daily broadcast
January 6, 2018 at 1:21 AM
Marty Bicknell sells Tortoise stake for '$150 million' with cash already earmarked for four or five RIA purchases
Mariner Holdings CEO banks tidy gain as he dumps his 67% stake in $20 billion-AUM Tortoise that had just $1.3 billion of AUM when he bought it
October 23, 2017 at 10:08 PM
After storming PIMCO, Dan Seivert puts LA on RIA map with high-aptitude Summit
Appropriating the bond giant's Newport Beach headquarters was a masterstroke that took the investment banker's 'deal' event to an RIA MBA cram course
September 22, 2017 at 9:51 PM
A year after John Copeland came to AMG with blue-ocean RIA growth plan, the publicly owned asset management giant spins him into new venture
Instead of sitting out frothy M&A market for $4-billion-plus RIAs as AMG exec, the now former president of the RIA unit is hustling, with more diverse backers, to crack the chronically stagnant M&A market for small firms
July 12, 2017 at 6:11 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
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
This time LPL share jump is traced to E*Trade
Critically late to the advice game and at loose ends after TD-Scottrade union, the New York-based discount broker has a lean and hungry look, according to Dealreporter
November 2, 2016 at 4:29 PM
Coming RIA custody fees and a new recruiting war catch the attention of deal hounds in Manhattan
At ECHELON event at NYAC, action items aplenty assaulted attendees -- especially with Apr. 30 looming
October 21, 2016 at 9:49 PM
LPL Financial share price tumbles to pre-hostile bid levels in atmosphere of eerie calm
LPL reps shrug their shoulders over a possible sale and investors seem in no hurry to buy but experts say the B-D has what PE loves -- lousy growth but terrific cash flow
