Portland, ME-based Foreside Financial Group, LLC, a mutual fund and exchange-trade fund distributor and compliance consultant, is on a buying spree. The firm last month snapped up King of Prussia, PA-based Professional Funds Distributor, LLC. The deal closed on June 30th.
The firm in April also bought BNY Mellon’s fund distribution business, BNY Mellon Distributors, and its four subsidiaries, including MGI Distributors, Fairholme Distributors, HighMark Distributors and Sterling Distributors. BNY Mellon Distributors was renamed Foreside Funds Distributors LLC and new office located in Berwyn, PA was opened to house BNY Mellon’s 11 employees.