The marketing expertise of Johnson Brunetti, which oversees $3bn, may help the Genstar-backed insurance brokerage continue to grow in the RIA space and beyond.
/PRNewswire/ Waller Helms Advisors ("WHA"), the specialist investment bank focused on insurance, healthcare, wealth, and financial technology, has agreed to.
Wells Fargo unit sale hailed as opportunity
Nicolaas Marais said the money management unit needs investment to thrive.
Wells Fargo Asset Management s new private equity owners may be just what the business needs to help it achieve scale and compete in the $1 trillion AUM club, industry players say.
Parent company Wells Fargo & Co. announced Feb. 23 it was selling its money management business with $603 billion in assets under management in a $2.1 billion deal to private equity firms GTCR LLC and Reverence Capital Partners. The split between the two firms was not disclosed. The deal followed months of speculation over whether the unit would be sold and to whom, with Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. previously named as potential suitors.