UBS USA planning to expand in the Americas
OCT 29, 2024
By Bloomberg
UBS Group AG Chairman Colm Kelleher said that his bank is eventually looking to buy another US wealth management firm to expand its presence there, once the Credit Suisse integration is complete.
Will JPM BUY Dynasty?
JPMorgan and Blackrock invests in Dynasty Financial . Schwab gave them $72M in 2022. Is this a sign to come that they will eventually BUY them out? Is this the sign that the consolidations will start to come ?...
Valuation Multiples for indie firms skyrocketing fast
Consider this - $275bn Fisher Investments went for a 20x multiple in June. not even 3 months later, $375bn Creative Planning was priced at 23x. numbers will continue to go up. Tagging along into an equity opportunity on the early part of this ride may be at least worth the exercise right now?....
M&A using someone else’s money
Recent DeVoe survey finds 70% of all acquisitions this year involve Private Equity money. 15% of all transactions are 1st time buyers
huge comp plan changes in November?
with yet another judgement against the wirehouses for advisors' owed deferred comp, I would not be surprised if we start to see HUGE changes to comp grid plans for 2025!
ML Launches Early CTP Program
Merrill says a big announcement is coming - hearing it could be about rolling out early retirement offers to entice senior advisors from leaving. Morgan and UBS already do this, it would be expected Merrill follow suit any day now
Sactuary Wealth to buy tru-Independence?
press is quoting inside sources that deal could close as soon as April2024. If it does, would allow Sanctuary to expand their offering to existing RIAs and their multi-custodial platform.
Merrill Lynch to go non-protocol?
Protocol details the specific standards and ground rules that must be followed to take advantage of protections to avoid litigation and potential liability issues when brokers take information with them when they leave a firm.
New Edge Financial to Attract Top UHNW Teams
Sophisticated advisors seeking independence have been flocking to New Edge for an independent UHNW solution.
The Exodus Out of Merrill Lynch to Continue
Each week it seems we learn of another big departure out of Merrill usually either to UBS or to an independent platform. Within 5 years, will wealth management even be a thing at the former Mother Merrill?