Page 13 - David Devoe News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Career path, standards less clear in financial advice than in other fields Professionals in any trade “have a sacred obligation to the client and society as a whole,” Blaine Aikin, founder of Fiduciary Insights, said in the keynote presentation at the InvestmentNews RIA Summit. May 18, 2021 3 MINS The path to becoming a financial adviser is not as clear as the paths to other professions, like doctors and lawyers, but that is changing, and more people should be prepared for a heightened fiduciary obligation. Professionals in any trade “have a sacred obligation to th...

Sequoia Financial’s latest acquisition increases its AUM to $7B. Sequoia Financial Group, an Akron, Ohio–based registered investment advisor, recently announced an agreement to acquire fellow Ohio RIA Wealthstone Advisors.  Out of the six RIA acquisitions Sequoia has made in its 30-year history, Wealthstone is its largest. The Columbus, Ohio–based firm brings $1.4 billion in assets under management to Sequoia, which had $5.75 billion in AUM at the end of March and raises its aggregate client assets to more than $7 billion. The transaction will be in cash and equity—made ...

Share this article NEWPORT BEACH, Calif., April 20, 2021 /PRNewswire/ --  Beacon Pointe Advisors ("Beacon Pointe") acquires its second Dallas based firm this month, adding $230M D.R. Saur Financial ("D.R. Saur") to its expanding DFW metroplex footprint. Matt Cooper, President of Beacon Pointe Advisors shares, "Beacon Pointe is focused on building scale in the Dallas/Fort Worth metroplex. The transaction with D.R. Saur is another step toward that goal. Dan and Lisa Saur are two of the nicest people you could ever meet, and we are thrilled to have them become a part of our hub office in Plan...

RIA consolidation returns to pre-Covid levels The surge in activity following the pandemic-induced lull is winding down as M&A returns to normal, according to DeVoe & Co. April 20, 2021 Despite another record quarter for RIA consolidation, M&A tracker DeVoe & Co. claims the pace of deal activity is in the final stage of the post-Covid surge. The record-setting 58 deals announced in the first three months of 2021 followed a record 159 transactions in 2020, including 48 in the fourth quarter, but managing partner David DeVoe said the 33 deals in January suggests a peak for the pandemic-induced ...

Sequoia Financial to acquire $1.4 billion Wealthstone Advisors The deal, which is expected to close this summer, pushes Akron, Ohio-based Sequoia's assets under management over the $7 billion mark. April 20, 2021 Akron, Ohio-based Sequoia Financial Group is beefing up its Midwest footprint with the acquisition of Wealthstone Advisors, a $1.4 billion Columbus, Ohio-based advisory firm. The cash and stock deal, which is expected to close by the end of June, will push Sequoia’s assets under management over the $7 billion mark and position the business closer to some of the nation’s largest r...