Added on August 2014 in M&A Issues
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Summary: The wealth management landscape may be primed for a shake-up as a number of revenue-hungry banks plan to enter the business. Roughly a quarter of banks are gearing up to offer wealth management services within the next two years, according to a survey of 200 bank executives and senior banking professionals conducted this spring by American Banker and SourceMedia Research.
Added on August 2014 in M&A Issues
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Summary: New York-based Cantor Fitzgerald Wealth Partners has acquired Capital Planning Advisory Group, a Yardley, Pa.-based RIA and the sixth team to join Cantor’s wealth management business since the launch of that division last September. The team manages about $120 million in assets, according to Meridian-IQ. The acquisition brings Cantor Fitzgerald's wealth management division to just over $3 billion in assets.
Added on July 2014 in M&A Issues
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Summary:The high end of the wealth management market is a very, very good place to be right now. Valuations for advisory firms with over $500 million in assets under management are expected to escalate in the wake of this month's Boston Private Bank and Trust's $60 million acquisition of Banyan Partners -- made at what sources say was a valuation of nine times EBITDA.
Added on July 2014 in M&A Issues
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Summary: Boston Private Bank and Trust Co. announced that it will pay $60 million in cash and stock to purchase Banyan Partners LLC, creating a $9 billion-plus AUM RIA roll-up hungry to acquire.
Added on July 2014 in M&A Issues
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Summary: The latest move by Boston Private Bank & Trust Co. into the investment advice space — a plan to buy a $4.3 billion Florida registered investment adviser — should be enough to alert well-run advisory firms that it's a seller's market.
