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Articles tagged "DeVoe & Co."


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Larry Fink didn't not get Credit Suisse added to BlackRock's trophy case because, maybe, it didn't try.

Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance

Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.

March 25, 2023 at 1:32 AM

David DeVoe: We’re in a state of distress.

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

David Pottruck: It’s time for new board leadership.
April 20, 2018 at 7:01 PM

Adam Birenbaum: We haven't scratched the surface.

Buckingham becomes KKR-fueled, check-listed M&A 'machine' that now feeds on BAM TAMP clients

The Focus Financial-owned DFA RIA faces hazards of going '100 miles per hour' but Buckingham CEO Adam Birenbaum has no fear

March 2, 2018 at 9:28 PM

Sagar Kurada: Our new facility will allow HighTower to fund additional acquisitions.

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

Mike Papedis: I am not interested in working for another firm as employee.

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

When Dave DeVoe (l.) started DeVoe & Co., Tim Kochis was on hand to advise. Now Kochis is managing director.

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

Brodie Cobb: I saw a lot of similar-sized very successful firms begin to sell in San Francisco like Constellation, Luminous and Bakers Street and the question is: why?

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

If Focus Financial has an IPO, the vultures may feast first, best.

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: You're not going to be dead when you sell your business.

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

Mike Norton: They need new sources of revenue -- especially recurring revenue.

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

Ed Friedman started at Morgan Stanley in 1985 as an advisor and made his name in a blizzard in Watertown, N.Y.

Dynasty Financial Partners drops its passive-referral strategy and hires a ex-HighTower talent to engineer proactivity

Ed Friedman, once at Elliot Weissbluth's left hand, becomes right-hand man of Shirl Penney after two years of cooling his heels after departure from HighTower

December 3, 2013 at 7:03 PM

Todd Morgan: It wasn't our fault it didn't work out the first time. We would have preferred to stay.

How 3 wealth managers at Goldman Sachs parlayed a $1 billion book of business into a $125-million payday -- after doing it once before for $217 million

Todd Morgan sold his practice to State Street the first time, bought it back and is now selling to an entity partially owned by the National Bank of Canada

September 5, 2013 at 3:37 AM

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

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

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