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Articles tagged "ECHELON Partners"


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Fisher Investments new Plano headquarters is part of the intrigue of the Fisher Investments story.

Fisher Investments is again part of a public firestorm after media heavyweights report it has entered sale talks; Fisher fires off heated denial, but one analyst still sees smoke on the horizon

The Plano, Texas RIA with $236 billion of AUM -- worth perhaps $10 billion -- flamed The Wall Street Journal for anonymously sourced report, without checking with firm, but did not condemn nearly identical Bloomberg report.

January 4, 2024 at 2:37 AM

Jim Rivers has his work cut out for him at Goldman Sachs' 'United Capital 2.0.'

Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn

Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.

October 4, 2023 at 2:16 AM

Jay C. Horgen, CEO of AMG: We supported this successful outcome for all stakeholders.

AMG unloads $17B Veritable after 11 years of metric stagnancy, which may explain the bargain price Pathstone is paying -- and the wholesale rollovers of principals

The $668-billion asset manager rollup in West Palm Beach, Fla. is dumping a remnant of its RIA rollup -- with cash proceeds of just $294 million

July 20, 2023 at 3:49 AM

Rudy Adolf: We will not be opening up the lines for Q&A as we normally do, but want to thank everyone as always.

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: I very much value our relationships with Fidelity and Pershing.

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: 'Their movements out show how talent is scarce and great firms are paying attractive compensation.'

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 (r.): The private equity guys are just phoning it in and not getting to know advisors.

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: It's all additive.

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

Elliot Weissbluth: I'm used to Seal Team Six. It's quite lovely getting to know people and walking through the front door.

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

With Scott Hanson in the mix Nathan Bachrach and Ed Finke accepted Parthenon's overtures

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: I've been talking about turning back on the inorganic engine.

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

Dan Seivert: It's so eye-opening to put it out to the audience.

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

John Copeland's strategy is to take a backseat to RIA principals by letting them own a majority of their firms.

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

Stone Point CEO Chuck Davis has insurer DNA having served on the board of The Progressive Corp.

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

Rudy Adolf: A key reason for our partnership is the vision we share for continued growth.

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

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