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iM Global to acquire Litman Gregory Asset Management

iM Global to acquire Litman Gregory Asset Management
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US in the news: Asset manager buys San Francisco wealth firm

US in the news: Asset manager buys San Francisco wealth firm
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French Asset Manager iM Global Partner to Acquire Litman Gregory

French Asset Manager iM Global Partner to Acquire Litman Gregory iM Global will use the asset management firm, which has about $4 billion in assets under management, as an extension of its distribution subsidiary, iM Global U.S., and plans to keep the wealth management unit independent. A French asset manager has made its first foray into the U.S. wealth management market. Paris-based iM Global Partner announced plans this week to buy Litman Gregory, a wealth management and asset management firm in Walnut Creek, Calif. iM Global Partner will take a 100% stake in Litman Gregory, which is currently owned by 12 remaining shareholders, four of which are retired, and Rosemont Investment Partners, a boutique private equity firm in Larkspur, Calif. that took a minority investment in 2013.

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