Wealth Enhancement Group, an independent wealth management firm that oversees USD17 billion in client assets, has acquired JOYN Advisors, a registered investment adviser based in Atlanta, Georgia, with approximately USD1.3 billion in client assets.
Deals & Transactions
Citimark Partnership, the adviser to private clients, trustees and corporates, has acquired the leading family office advisory firm, Chawker & Co.
Morgan Stanley is to acquire E*TRADE, a financial services company and specialist in the online brokerage industry, in an all-stock transaction valued at approximately USD13 billion.
IPS Capital (IPS), the multi-asset investment management firm, has completed a merger with Prospect Wealth Management (Prospect).
Franklin Templeton is to become one of the world’s largest independent asset managers, with USD1.5 trillion in assets under management, with its purchase of Legg Mason for USD6.5 billion, including assuming USD2 billion of existing debt.
Accusource, a provider of reconciliation, General Ledger integration, performance measurement validation, and statement digitisation services to RIAs, hedge funds, family offices and asset managers, has been acquired by STP Investment Services.
Quilter has rebranded its cross-border wealth management solutions business to Quilter International.
Frenkel Topping, a specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, has established a 50:50 joint between its discretionary fund manager (DFM) Ascensia Investment Management (Asencia) and Truly Independent, a firm of independent financial advisers.
ThinCats, an alternative lender to mid-sized SMES, has provided funding to support HFMC Wealth’s ongoing acquisition strategy. Established in 1987 HFMC Wealth is an award winning chartered financial planner with offices in London and Weybridge.
AnaCap Financial Partners (AnaCap), a specialist European financial services private equity firm, is to acquire wealthtech platform, Wealthtime, as the initial investment in a sector growth and consolidation strategy.