Private equity firms

As the firm repelled a rare activist challenge, a potential private equity buyer has approached it, according to a news report.

The deal to buy Wealthstreet Investment Advisors marks half a dozen since the RIA roll-up received a PE investment last year.

Two experienced private equity investors in wealth management struck a deal for a minority stake in one of the industry’s biggest names.

Ascensus sold the practice with four reps and $490 million in client assets after acquiring it two years ago.

Wealth Enhancement Group’s second acquisition of 2021 comes as experts say there’s an “ever-increasing buyer appetite” for $1 billion-plus firms.

The wealth manager aims to build connections and take feedback through a new group resembling ones launched by rivals in recent years.

As wealth managers compete for advisors, the firm picked a former one to lead it.

The acquisition of another midsize wealth manager will boost the holding company above 2,500 reps with nearly $95 billion in AUA.

Despite the credit-positive reading by one agency, the IBDs are competing against less leveraged rivals.

The 2,500-advisor firm is sneaking up on larger rivals by adopting an approach that’s increasingly popular across wealth management.