Money Management Executive

Nuveen Plans to Buy Calif. Asset Manager

Published August 03, 2005, 1:00 a.m. EDT

1 Min Read

Nuveen Investments, a Chicago money management company, announced Monday that it had agreed to buy Santa Barbara Asset Management.

Processing Content

Santa Barbara, which has $2.8 billion of assets under management, specializes in managing growth stock portfolios for institutions and high-net-worth investors.

Nuveen is to pay $50 million of initial consideration in cash for Santa Barbara, whose assets under management have doubled in the past two years. The California company's research and investment team will continue to operate independently and expand its investment platform and team over time. The deal is expected to close within 60 days.

Nuveen manages $124 billion of assets.

For reprint and licensing requests for this article, click here.

Money Management Executive

MORE FROM FINANCIAL PLANNING

Wealth management

200,000 reasons to thoughtfully integrate AI: Q&A with Wells Fargo's AI chief

In his new role at Wells Fargo, Andre Mansour is harnessing his Google experience to bring efficient, meaningful systems that assist both advisors and clients.

By Grace L. Williams
Reporter

2h ago
Practice and client management

Could a wave of advisor retirements depress RIA valuations?

Median sale prices for RIAs have long been ticking upward. But some valuation experts argue that impending retirements could lead to an oversupply of firms on the market — and lower price tags.

By Dan Shaw
Reporter

June 18
Retirement

How to prepare for 4 big risks facing any retirement plan

Financial advisors and their clients must prepare for the possibilities of a stock downturn, unexpected early retirement, long-term care and inflation, experts say.

By Tobias Salinger
Chief Correspondent

June 18
Practice and client management

How to raise fees without losing clients

Raising firm fees — whether under a flat-fee or AUM model — is essential to maintaining a profitable RIA. Wealth advisors shared how they were able to increase prices and revenue with little client turnover.

By Kathryn Miller
Reporter

June 18
Social Security

What Social Security uncertainty means even for wealthy clients

With the clock ticking toward the Social Security fund's projected insolvency, advisors might take different approaches depending on clients' ages and levels of wealth.

By Zoe Sagalow
Reporter

June 17
Investment strategies

The case for applying an old-school dividend strategy to investing today

Portfolio managers from Fidelity, Columbia Threadneedle and JPMorgan said the case for dividend investing remains strong, even if it receives less emphasis than other strategies these days.

By Tobias Salinger
Chief Correspondent

June 17

Load More