The nation’s largest IBD made its first tech deal this year for a firm that has $120 billion in assets on its platform.

The company said no additional layoffs would take place this year, but it left the door open to future staffing changes at the newly combined enterprise.

If approved for an IPO, the blank check company will face stiff competition among the growing ranks of RIA acquirers.

The move represents the third largest out of the IBD channel in 2020, according to company recruiting announcements tracked by Financial Planning.

New ownership of the popular platform could open the door for new tech leadership, but don’t count Schwab out yet.

Genstar Capital Managing Partner Tony Salewski spoke openly with advisors about the firm’s investment strategy for the IBD network.

Renewed recruiting efforts and pumped-up tech are boosting headcount and fee-based assets.

The acquisition established a $6 trillion-giant operating as a mutual fund company, RIA custodian, bank, retail brokerage and national wealth management firm.

Estimates for the deal between the analytics platform and private equity firm LLR Partners go as high as $270 million.

Among those leaving is Tom Nally, president of TD Ameritrade’s RIA division. He’d been with the company for 26 years.

Days after completing the purchase of E-Trade, CEO James Gorman’s second major transaction of the year aims to bulk up the firm’s asset management arm.

The custodian had been a key player in the growth of the independent channel.

The newly combined firm is expected to transform the independent marketplace in terms of technology, talent and RIA choice.

The combined company would become a $2 trillion RIA custodian.

The firm is maintaining control but dropping its FINRA registration as the sector’s rising expenses and lower margins fuel consolidation.

The independent firm has been an aggressive recruiter since its founding in 2013.

“I would not be doing my job as somebody that is totally committed to making our Americas’ business a top competitive business for Julius Baer if I wasn’t seriously looking at a U.S. platform,” said Beatriz Sanchez, the bank’s head of the Americas.

Talk about European banking consolidation has been heating up as the coronavirus pandemic adds to challenges such as negative interest rates that have weighed on profitability for years.

Funds that buy debt backing sustainability matters grew 12% from the end of 2019 globally, reaching a record $209.5 billion of assets, data show.

It could be a “better together” scenario for retiring sellers and under-55 advisors alik