Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Industry observers expect a small wave of follow-on deals from competitors. The combined entity is expected to manage just over four billion dollars when the transaction closes. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin.
The combined entity is expected to manage just over four billion dollars when the transaction closes. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter.
The detail
Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. 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 deal is the latest in a wave of consolidation that has reshaped the channel over the past three years.
“Gold is not a hedge. It is a regime indicator.” Multi-asset portfolio manager
Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Compliance staff inside the acquirer have been preparing for the integration since early March. The transition team has been on site since Tuesday, walking through technology integration with the home-office staff.
What it means for advisors
Industry observers expect a small wave of follow-on deals from competitors. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. It is the kind of deal that says less about price than about positioning for the next cycle. Both sides described the transaction as transformational, but neither would discuss financial terms on the record.
- Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition.
- 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.
- Both sides described the transaction as transformational, but neither would discuss financial terms on the record. The combined entity is expected to manage just over four billion dollars when the transaction closes.
Industry observers expect a small wave of follow-on deals from competitors. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin. It is the kind of deal that says less about price than about positioning for the next cycle. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
