Articles tagged "Fiduciary Network"
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Karl Heckenberg files with SEC to raise a staggering $1 billion, (presumably) to buy, buy, buy RIA stakes in a 'crowded' market
The former CEO and president of Emigrant Partners has launched the Constellation Wealth Capital Fund with a ten-figure funding target.
August 18, 2023 at 3:56 AM
Karl Heckenberg ends phenomenal five-year run of reining in Mark Hurley, forming Emigrant Partners -- and selling high on long-held RIA stakes -- as bank boss hired gun
Howard Milstein bet on the then-43-year-old to buy back Fiduciary Network for Emigrant Bank, replace a team and find success; now Emigrant Partners must replace its main man at 48
April 12, 2023 at 7:27 PM
CI Financial continues to feast on Blind Squirrels' membership like a cache of stored nuts
The Toronto serial acquirer is adding study group member Radnor Financial Advisors' $2.6 billion to the bigger haul from Balasa Dinverno, RGT and Brightworth.
June 28, 2021 at 8:42 PM
Howard Milstein scrubs Mark Hurley's stringent contracts with 22 RIAs then buys $1.5-billion semi-RIA through satellite entity with a looser mandate
With its new billionaire owner calling the shots, the Mark Hurley baby is doing some fence-mending but economical deals remain elusive in crowded market
April 18, 2019 at 4:50 AM
Emigrant Bank 'doubles down' to send Mark Hurley packing and fire up Fiduciary Network, its RIA deal machine
The billionaire-owned New York bank eschewed the quick buck of a top-of-market sale to bet Karl Heckenberg can make Fiduciary Network function even better as its new CEO
November 22, 2018 at 12:07 AM
Mark Hurley battles to end his relationship with his billionaire investor
The Fiduciary Network CEO needs a "bigger" investor, he says, as RIA LBO game heats up and he holds upper hand after winning arbitration but Howard Milstein's bank hasn't waved the white flag
November 9, 2017 at 4:08 AM
Dynasty Financial toes roll-up model's edge with new plan to buy revenue from its RIAs
By maxing deals at 10% of revenues and allowing a three-year bailout option, the New York-based firm seeks to hew to its non-intrusive roots
May 3, 2017 at 2:01 PM
With beginnings harking back to E*Trade's RIA roll-up liquidation, two Boston-adjacent RIAs of a certain age join to create a $4.7 billion firm
Downplaying succession ghosts, the Mark Hurley-funded combo of Adviser Investments and Braver Wealth Management is equal parts M&A wizardry and product of a local soda fountain meet-up
March 1, 2017 at 6:14 PM
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
How Steve Foldes merged his $600-million RIA with mentor (and former advisor) Harold Evensky creating a $1.5 billion Florida behemoth
The former sandal magnate got rich at 35, became an Evensky client, a rival and now a partner
June 19, 2014 at 4:34 PM
Lon Morton shows how to sell to a bank and live happily ever after -- but don't try this at home
Morton Capital weathered five years of rough seas but ultimately the misfortunes of its original bank owners accrued to his benefit
October 31, 2013 at 8:23 PM
With cash and grace, Brouwer & Janachowski attracts another $100 million firm by creating a never-say-retirement home for older RIAs
Using Seton Smoke deal as a template, the $1.1 billion RIA adds a firm helmed by a local 68-year-old
September 17, 2013 at 4:40 AM
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
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
Mark Hurley drops a new wealth management prognosis on the industry with a zero-sum flavor
With the best clients aging, RIA business will be shaped by how about 2,000 'tweener' firms react to fast-deteriorating business conditions
