Private equity funds

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

Previously, criteria focused on an investor’s wealth. Now, a broader group has access to investments that include private company offerings and certain private equity funds.

“What we’re trying to build here is something that stands the test of time,” says Todd Boehly.

The industry’s most active aggregator makes its sixth purchase of the year.

Soaring demand for loans has spurred DeVoe & Co. to launch a referral service.

Genstar puts consolidator Mercer Advisors up for sale.

The aggregator has bought 22 firms with $7.1 billion AUM since 2016.

The Wall Street giant will use the Main Street advisory firm to further its mass-affluent strategy.

Reverence Capital Partners agreed to buy 75% of the 6,500-advisor IBD network from the ownership team that purchased it in 2016.

With an eye on a future sale, the $48B RIA wants to build enterprise value.

People familiar with the matter said that Centerbridge Partners is in talks to buy the four-firm, 6,500-advisor IBD network.

Strategic buyers have less cash but more flexibility, experts say.

Still, advisors thinking of selling are urged not to procrastinate.

Woodbury Financial Services has added 572 advisors with $22 billion in client assets since the fall of 2017, CEO Rick Fergesen says.

The firm aims to avoid disruptions for its 2,300 advisors — but the pending recapitalization comes as the space consolidates amid shrinking margins.

The private equity giant with a track record of taking firms public would add the IBD to its list of more than 850 investments for $73 billion worldwide.

Fintechs are also attracting strong PE interest; robos not so much.

Under the deal, private equity-backed Wealth Enhancement Group would make its 10th acquisition in the past five years.

In a surprise move, Liz Nesvold sells investment bank Silver Lane Advisors to Raymond James Financial.

Many NEXT Financial reps would cash out their company shares while it boosts technology under a deal with Atria Wealth, the parties say.