Q1 2021 Sees ‘Record-Shattering’ Pace of Adviser M&As
Strong market conditions, increased competition from buyers and favorable deals for sellers laid the foundation for the activity, according to the latest data published by Echelon Partners.
Echelon Partners has published its latest quarterly review of adviser and brokerage industry merger and acquisition (M&A) activity, finding the first quarter of 2021 shattered the previous record.
According to Echelon, there were 76 deals that took place in Q1 2021. This is the largest number of deals in a single quarter in the history of the wealth management industry, the report states.
“Strong market conditions, increased competition from buyers and favorable deals for sellers laid the foundation for the record-setting activity,” Echelon reports. “However, anticipation that the new [presidential] administration could introduce higher capital gains taxes that could go into effect in 2022 also accelerated dealmaking activity.”
Hub International agrees to buy Plan Sponsor Consultants
Hub International agrees to buy Plan Sponsor Consultants
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Terms of the deal, which closed April 2, were not disclosed.
The acquisition of the Atlanta-based firm added 184 plan sponsor clients with $2.4 billion in assets under management to Hub s client roster, a Hub spokeswoman said.
The addition also builds on Hub s expansion in the Gulf South region and strengthens its retirement capabilities, Shaun Norris, president of Hub Gulf South, said in a Hub news release Tuesday. As part of the transaction, Michael Kane, managing director of Plan Sponsor Consultants, and Lee Applebaum, senior vice president, joined Hub Retirement and Private Wealth in Hub Gulf South.
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CHICAGO, April 6, 2021 /PRNewswire/
HUB International Limited (Hub), a leading full-service global insurance broker, announced today that it has acquired the assets of Plan Sponsor Consultants. Terms of the transaction were not disclosed.
Headquartered in Atlanta, Georgia with an additional location in Birmingham, Alabama, Plan Sponsor Consultants is a nationally recognized independent retirement plan consulting firm offering expertise and guidance on retirement plan management for all plan types and sizes. Plan Sponsor Consultants manages $2.4 billion in assets. Plan Sponsor Consultants joining Hub continues our expansion in the Gulf South region and our focus on expanding our retirement capabilities to round out the services we offer to clients, said Shaun Norris, President of Hub Gulf South.
Case Study Of V. Lamettry s Collission, Inc.
Case Study Of V. Lamettry s Collission, Inc.
269 Words2 Pages
United States District Court of Minnesota: Debbie Damberg and Tony Severson, on behalf of LaMettryâs 401(k) Profit Sharing Plan, Plaintiffs. V. LaMettryâs Collission, Inc., Steven P. Daniel, and Joanne M. LaMettry, Defendants
This lawsuit was from May 2016. Plaintiffs on behalf of all similarly situated participants and beneficiaries of the LaMettryâs 401(k) Profit Sharing Plan brought a lawsuit to recover financial losses suffered by the Plan and obtain injunctive and other equitable relief for the Plan from LaMettryâs (Plan Sponsor) and their CFO, Steven P. Daniel and President Joanne LaMettry (collective trustees) based on breaching their fiduciary duties. The lawsuit claimed the Defendants breached their duties under ERISA by: 1) causing