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Articles tagged "David Devoe"


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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

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

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

Rich Gill is bringing his analytical and personal skills to AMG's effort to replicate its asset mangement success on the RIA side.

Why AMG's poach of Rich Gill could be the missing ingredient for its V-8 roll-up engine

Loaded with cash, experience and $11.5 billion of market cap, the North Shore asset manager just downloaded the RIA roll-up app in hiring the Focus Financial veteran

July 22, 2014 at 6:48 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

Waltham is in the Boston wealth belt -- close enough to the Hub but far enough away to spread out in a glassy building.

A $1.2-billion RIA is born on the Rt. 128 altar as two $600-million-AUM firms -- one in hyper-growth mode by Fidelity referrals -- get hitched

Spawned from an away breakfast, the deal of Argent Wealth Management and Pillar Financial Advisors financed a succession, forestalled death on the vine and set the stage for accelerated growth

November 15, 2013 at 8:25 PM

Gary Dorfman: We represented ourselves not as a startup but as part of one of the top institutional management companies.

How Matt Cooper is getting past the 'oh, sure' factor that came from a slow roll-out of ... the other Newport Beach roll-up

Not only are deals picking up at the $900-million Beacon Pointe Wealth Advisors but existing advisors are telling success stories that can be quantified

October 4, 2013 at 6:27 AM

David Canter: From the session on valuation, we learned that it's more complex than most are willing to admit.

What happened when Fidelity Investments called 25 deal-making protagonists to its Boston sanctum for a talk about the suboptimal RIA M&A market

David Canter recounts what his company set out to do, who showed up and what the pooling of ideas yielded

September 30, 2013 at 5:38 PM

Robert Clarfeld: It's a minority investment with revenues-sharing and they have no control over expenses.

AMG delves deeper into the RIA business with second deal -- of $4-billion player in NY

Its purchase of a stake in Clarfeld Financial Advisors, Barron's No. 3, shows the Veritable deal was, indeed, a warm up

August 20, 2013 at 3:18 AM

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