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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...

CI Financial Acquires $2.5B Barrett Asset Management This marks CI’s 15th deal since entering the U.S. RIA market in January 2020, bringing its total U.S. assets to about $50 billion. Canadian-based asset and wealth manager CI Financial announced its second deal this year—this time acquiring New York-based Barrett Asset Management, a registered investment advisor with $2.5 billion in assets. This marks CI’s 15th deal since entering the U.S. RIA market in January 2020, bringing its total U.S. assets to about $50 billion. The deal follows CI’s acquisition of Chicago-based Segall B...

Peter Mallouk's Employees Take Equity in Creative Planning Some 10% now have a stake in the fast-growing RIA. 'We anticipate that the percentage that’s owned by employees should increase every year from now and ongoing,' Mallouk said. Creative Planning Chief Executive Peter Mallouk opened equity to employees inside the fast-growing registered investment advisory firm, with 10% of the workforce, or some 86 people, now partial owners, according to a company announcement. Mallouk would not reveal the names of the firm's new principals but said it was largely those with long te...

A succinct roundup of the major M&A announcements for the first week of February. January was another record deal for mergers and acquisitions, according to DeVoe & Company’s RIA Deal Book Alert for January. There were 29 total transactions, nearly double January 2020’s figures. Below are more deals along with firm-to-firm advisor moves announced for this week: Tiger Blackwell Joins LPL Financial from Stifel, Nicolaus & Company Tiger Blackwell, founder of Blackwell Money Management in Baton Rouge, La., managed approximately $100 million at Stifel before moving to LPL’s newly lau...