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S.Africa's Rand Merchant to sell stake in insurers, plans rights issue reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
RMI shares up 14% on news of Discovery, Momentum unbundling capetalk.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from capetalk.co.za Daily Mail and Mail on Sunday newspapers.
RMI shares up 14% on news of Discovery, Momentum unbundling 702.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 702.co.za Daily Mail and Mail on Sunday newspapers.
The mergers, acquisitions and deals you may have missed the week of May 10, 2021. Several deals hit the wire this week. Canadian serial RIA acquirer CI Financial announced that it entered the San Diego market, adding Dowling & Yahnke, an RIA with $5.6 billion in assets under management, to its portfolio. An LPL Financial office of supervisory jurisdiction with $3 billion in AUM acquired U.S. Financial Advisors in Braintree, Mass. The firm manages about $750 million in client assets. Another Canadian firm that’s been building out its U.S. arm, RBC Wealth Management, picked up a firm in Princeton, N.J., that managed $1.6 billion in AUM and consulted over $5 billion in retirement plan assets, endowments and foundations at UBS Wealth Management USA. ....
Kandor, which serves international clients, comes under Summit s custom capital model, launched in January. Summit Financial has taken a minority, non-controlling stake in Kandor Global, a Miami-based registered investment advisor with $450 million in client assets. The firm joins under its new custom capital model, Summit Growth Partners, which was launched in January with the help of Merchant Investment Management. Kandor, which specializes in serving the Latin American business community, represents Summit’s 13th such investment and its first aimed at serving international clients. The RIA was launched late last year by CEO Guillermo Vernet, who stepped down from his role as head of Insigneo Wealth Advisors, the RIA owned by Insigneo Financial Group, a financial services firm that specializes in serving non-U.S. clients. ....