Envestnet’s platform services agreement with FundQuest 18 months ago has gone well, apparently.

DST Systems Reviews Strategic OptionsAugust 5, 2011Chris KentourisAfter insisting it wants to stay independent, DST Systems on Friday came close to confirming it was on the block.Like what you see? Click here to sign up for Securities Technology Monitor's weekly newsletter to get the latest news and analysis that matters to the effective operation of capital markets.Last month, DST said it was not entertaining discussions with any party regarding a sale of the company and didn’t think its stock price was representative of its long-term intrinsic value. Therefore, it couldn’t entertain a takeover.But on Friday, the Kansas City, Mo. based firm which provides recordkeeping and other services to mutual funds and broker-dealers, said that it hired Bank of America Merrill Lynch and law firm Skadden, Arps, Slate, Meagher & Flom LLP to advise its board. Stinson Morrison Hecker LLP is providing legal advice.“The board of directors of DST Systems, Inc continuing its long standing practice of engaging in an ongoing review of the Company’s business plan, assets and investment portfolio,” said DST in a statement on Friday.In that same statement, DST also confirmed that it rejected a bid from Russell Glass, the founder of RDG Capital LLC, that he and two other people be added to its board. Glass said in June he made a bid to buy DST.DST’s stock dropped $2.92 a share or six percent to $45.91a share on Thursday giving the firm a market value of $2.1 billion.DST’s news on Friday followed a dismal second quarter earnings report; second quarter earnings fell 41 percent to $55.2 million from the year earlier period due to a large payment the firm received when a customer dropped its contract last year.The 2010 figure included a $58 percent termination payment. Eliminating the payment from earnings, DST’s earnings declined 14 percent to $49.4 million from $57.6 million the year earlier in large part due to a decline in the number of registered accounts it handles. Revenues declined 9 percent in the 2011 second quarter to $424.1 million.After insisting it wants to stay independent, DST Systems on Friday came close to confirming it was on the block.

Private equity firm Warburg Pincus has acquired a majority stake in The Mutual Fund Store as well as a minority stake in Summit Partners, which invested in The Mutual Fund Store in 2006.

DST Systems has signed a definitive agreement to acquire ALPS for $250 million in cash.

Federated Investors has completed its acquisition of $509 million in mutual fund assets covering equities, fixed income and money markets from EquiTrust Series Fund and EquiTrust Variable Insurance Series Fund.

Hutchens Investment Management has merged with New Leaf Asset Management, with New Leaf executives Fletcher Cole and Carrie Bossi joining the Hutchens team.

DST Systems has signed a definitive agreement to acquire ALPS for $250 million in cash. Once the deal closes, which is expected in the fourth quarter, ALPS will be marketed as “ALPS, a DST Company.”

CIBC is taking a 41% stake in American Century, paying $848 million in cash for the shares that JP Morgan currently holds. JP Morgan paid $900 million for a 45% stake in American Century in 1998 and pared back its holdings over the years.

A trickle of corporate cash is beginning to flow into acquisitions, business launches and other capital expenditures, according to the 2011 AFP Liquidity Survey by the Association for Financial Professionals.

Teucrium Trading, the issuer of six single-commodity exchange-traded products, has received an investment from private equity and venture capital firm Sun Mountain Capital.

PNC Financial Services Group Inc. on Monday said it struck a deal to buy Royal Bank of Canada's U.S. retail banking operations for $3.45 billion.

AXA Private Equity has signed an agreement to purchase a $1.7 billion portfolio of limited partnership interests in private equity buyout funds and direct stakes in companies from Citigroup.

Northern Trust said it plans to acquire technology-driven hedge fund administration firm Omnium from Citadel, the large Chicago asset manager and market-making firm.

BNY Mellon announced Thursday it has agreed to buy Chicago-based Talon Asset Management' s wealth management operations, which have more than $800 million in assets under management.

Horizon Asset Management and Kinetics Asset Management announced Thursday that they will merge on May 1 to form Horizon Kinetics, an investment advisor with $9.8 billion in assets under management.

Charles Schwab Corp. said it will acquire the online brokerage optionsXpress Holdings for $1.0 billion.

Northern Trust announced Thursday it reached an agreement to buy the fund administration, investment operations outsourcing and custody business of the Bank of Ireland Group, Bank of Ireland Securities Services.

NYSE Euronext and Deutsche Borse announced their merger Tuesday morning, creating “the world’s premier global exchange group, the world leader in derivatives trading and risk management, and the largest, most well-known venue for capital raising and equities trading,” the exchanges said.

Manulife Asset Management has acquired the assets of Optique Capital Management of Milwaukee, Wisc. Terms of the deal were not disclosed, but the companies did say that Optique has $800 million in mutual fund and separately managed account assets under management.

Hours after the stock exchanges in London, Toronto, Montreal and Milan said they would merge, the Deutsche Börse AG and NYSE Euronext Wednesday confirmed are trying to marry.