Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. Industry observers expect a small wave of follow-on deals from competitors. The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. The combined entity is expected to manage just over four billion dollars when the transaction closes.
The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Industry observers expect a small wave of follow-on deals from competitors. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years. Compliance staff inside the acquirer have been preparing for the integration since early March.
The detail
Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. It is the kind of deal that says less about price than about positioning for the next cycle. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. The combined entity is expected to manage just over four billion dollars when the transaction closes.
“Naming the eldest sibling is not a default. It is a decision with downstream consequences.” Senior estate planning attorney
Insiders say the firm has been quietly building out its alternatives platform since last summer. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. The combined entity is expected to manage just over four billion dollars when the transaction closes. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM.
What it means for advisors
The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. Industry observers expect a small wave of follow-on deals from competitors. Compensation for the senior partners is rumored to be tied to a five-year retention schedule.
- The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Both sides described the transaction as transformational, but neither would discuss financial terms on the record.
- Insiders say the firm has been quietly building out its alternatives platform since last summer. Both sides described the transaction as transformational, but neither would discuss financial terms on the record.
- It is the kind of deal that says less about price than about positioning for the next cycle. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence.
The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin.
