M&A
Rockefeller Capital Management
Canadian financial services group IGM Financial has agreed to buy a 20.5% stake in Rockefeller Capital Management for $622m (£499m, €570m).
As a result, IGM is now Rockefeller’s second largest shareholder, with Viking Global Investors remaining the lead shareholder.
In addition, as part of this transaction, the Rockefeller family is increasing its investment in Rockefeller Capital Management.
IGM’s equity interest in Rockefeller creating an entry to the US wealth market.
Mercer Global Advisors
The registered investment adviser (RIA) firm has bought Pennsylvania-based Andesa Financial Management for an undisclosed sum.
The team serves 260 clients with assets under management (AuM) of approximately $330m.
Waverly Advisors
The RIA firm has made its first acquisition of the year with the purchase of Omni Wealth Advisors for an undisclosed sum.
The partnership with Omni Wealth enhances Waverly’s presence in Atlanta and Tampa.
Omni Wealth brings over 30 years of financial planning, investment and tax knowledge to Waverly.
Brian Hershberger, president of Omni Wealth, has led the organisation since 2001. The firm serves approximately 140 high net worth clients.
EP Wealth Advisors
The independent registered investment adviser (RIA) firm has acquired Pennsylvania-based Lehman & DeRafelo Financial Resources for an undisclosed sum.
The acquisition is EP Wealth’s second in the greater Philadelphia area and eighth office on the east coast.
Lehman & DeRafelo provides d financial planning and investment management services to clients.
Principals Rich DeRafelo and Ron Lehman will each assume the role of regional director, while Jeff Lehman will become a senior wealth adviser.
In total, four advisers and two support staff will join EP Wealth.
The acquisition is expected to add over $1bn to EP Wealth’s assets under management.
People moves
Private Advisor Group
The wealth manager has named Adam Schorr as chief financial officer and Petra Barone as head of finance.
Schorr was most recently senior vice president technology strategy, business operations – chief of staff to chief investment office at LPL Financial.
