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The CEO of SVB Private Bank discusses how RIAs can expand through organic and inorganic strategies.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

Shortly after, HoldCo Asset Management, which owns 4.9% of Boston Private's shares, protested the acquisition. The investor claimed the price was too low for a regional bank, and was prompted largely by Boston Private executives misguided pursuit of a wealth management strategy which HoldCo principals called "a pipe dream." HoldCo felt Boston Private’s shares should have been valued at $13.50 to $17 instead of the $11.50 price it saw the day after the sale was announced.  Proxy advisors said that the $14.96 per Boston Private share is a 78% premium to Boston Private’s $8.45 shar...

The leadership at Boston Private Financial Holdings wanted to establish a wealth management partnership with SVB Financial Group — but ended up striking a deal to sell the company to SVB instead.