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Articles tagged "David Devoe"


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Rudy Adolf: The partners and management gave up their majority ownership. It is not an issue whatsoever.

Partners at Focus Financial check their egos at the door to secure $216 million of hard cash

Polaris, Summit and CEO Rudy Adolf sell a portion of their stake in the big aggregator to Centerbridge Capital Partners -- and it puts them in a minority position for the first time

July 16, 2013 at 1:49 AM

James "Chip" Mahan: If you ask any banker about the SBA, they'll say it's messy with a lot of paperwork and sometimes the SBA won't pay. But we disagree.

Fidelity's M&A program reload looks 'game-changing' after it partners with a middleman to get Uncle Sam to guarantee RIA deals

The piece de resistance is a maverick-owned North Carolina bank with an RIA-savvy ex-Schwabbie and software that fights SBA red tape

June 20, 2013 at 5:53 AM

David DeVoe: We should be seeing over 100 external sales a year – nearly two times what we are seeing in actual transactions.

Schwab 2013 RIA M&A data show hope but also futility

David DeVoe and Mark Hurley weigh in on just exactly what is and isn't working

May 3, 2013 at 4:38 AM

Loren Starr: It really was not something that we were out looking for -- to sell the business.

What's up with Invesco offloading its $20-billion RIA/trust firm to a Canadian bank -- and at a bargain price?

Post-Morgan Stanley deal, the institutionally-minded fund company is becoming a player in retail asset management -- making Atlantic Trust less of a core holding

April 17, 2013 at 5:19 PM

Liz Nesvold: More hires are definitely on the way.

Enter the deal makers: RIA M&A firms are hiring furiously -- even without a deal boom

Silver Lane, DeVoe & Co. and Gladstone are among the companies buying desks and seeking more resumes

March 25, 2013 at 3:59 AM

Rob Francais: It gets a little easier each time. We learn how to do it more effectively.

Aspiriant sets the stage for its next big buy -- and only RIAs with more than $1 billion in assets need apply

Now that the $7-billion Los Angeles firm has digested Deloitte, its executive M&A team ponders its next move

March 5, 2013 at 5:11 PM

Jon Beatty says many advisors are still more fixated on tending to nervous clients than doing deals.

The RIA M&A market stumbled in 2012, but giants were not deterred, Schwab end-of-year data shows

M&A activity still sickly slow by some reckonings, but harbingers of mating activity abound

January 28, 2013 at 4:34 PM

Peter Raimondi and Scott Dell'Orfano are building on a relationship forged as client and custodian exec in Boston.

Scott Dell'Orfano lands at a $1.4 billion RIA with plans to deal its way to $10 billion

The ex-Fidelity RIA exec will oversee the spending of private-equity capital on behalf of Peter Raimondi's burgeoning RIA

January 25, 2013 at 3:24 AM

Haley Rockwell: It didn't make sense to structure it as an acquisition, because I want to grow with the business.

How three small firms backed with big-time M&A muscle brought in $450 million with strategic buys

There are vivid back stories behind each Focus-owned firm's deal; taken together they could show the way forward for the aggregator model

January 24, 2013 at 8:04 PM

Colleen Lindstrom: I typically gather and review a significant amount of data and input before making a decision.

Why it took Rudy Adolf seven years to win an elusive $1.5-billion RIA to cap a $14-billion-asset year

The $60-billion-AUA firm has its mojo back as it brings on a woman-run firm with a 49-state presence

January 10, 2013 at 6:36 AM

Christopher Dean: Our view is that more assets are going to move out of the traditional brokerage channel.

The 19 ways private equity has juiced up the RIA business and how it's working out

RIAs, rollups, technology companies, RIA-friendly IBDs are among the firms soaking up the high-ROI capital

January 2, 2013 at 5:40 PM

Bernie Clark: It's highly unlikely you'll see a five-year program. We'll continue to morph.

Schwab is creating an RIA MBA-equivalent to grease the skids of internal succession -- and internships to build an RIA worker-bee talent grab pile

One area of weakness for RIAs is finding the resources, time and expertise to train people, and Schwab is addressing the need

November 15, 2012 at 5:34 AM

Mark Sear says that referring clients to outside lenders was not working well for his firm.

First Republic pays a staggering sum for Luminous Capital, sources say, and shifts the breakaway and M&A games in the bargain

Recruiters are getting renewed interest from big wirehouse teams and the $125 million deal shows that breakaway brokers can realize big enterprise value in short order

November 8, 2012 at 4:53 AM

David Hou helped lead the biggest-ever Merrill breakaway and now he's part of a long-term deal with First Republic Bank.

A $5.5 billion LA-based RIA is getting purchased by First Republic Bank

Luminous Capital has gone from a 2008 Merrill Lynch breakaway to a big bank puzzle piece in 2012

November 5, 2012 at 7:04 AM

Ric Edelman: We need to serve the 99% that hate us, not just rich people.

Ric Edelman is looking to add a $1-billion RIA elephant even as he unveils an online consumer strategy aimed at the chipmunks

Already Barron's No. 1 with predominantly a mass-affluent game, the radio dynamo is ready to invest private equity to add a quick $1 billion of AUM

October 29, 2012 at 3:26 PM

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