M&A
Perpetual
The Australian financial services company has agreed to acquire investment manager Barrow Hanley, Mewhinney & Strauss from BrightSphere Investment Group.
Barrow Hanley will retain its brand autonomy and continue to operate independently with no change to its investment teams and philosophy.
This partnership bolsters Perpetual’s growth plans for the Americas, Europe and around the globe.
Additionally, it provides an opportunity for Barrow Hanley to offer its proven investment strategies to Australian, Asian and Pan-Pacific retail and institutional investors.
The deal is expected to be completed in the fourth quarter of 2020, subject to regulatory approval, and the financial terms of the deal were not disclosed.
Hightower
The wealth firm has made a strategic investment in Frontier Investment Management, a Dallas-based advisory business.
Founded in 1994, Frontier has three offices in Texas, as well as offices in New Orleans, Denver, San Ramon, San Diego, Scottsdale, and Florida.
Led by principals Brian Hattendorf, Richard Sowden and Gary Schoen, Frontier has 42 employees, including 35 who work directly with clients in an advisory capacity.
In conjunction with the transaction, Frontier promoted eight employees to partner, as part of its growth strategy.
The transaction is expected to close in the third quarter of 2020, subject to regulatory approvals. The financial terms of the deal were not disclosed.
Elsewhere, Hightower has made a strategic investment in Illinois-based Private Vista.
The advisory practice provides financial planning and investment management services.
The transaction is expected to close in the third quarter of 2020, subject to regulatory approvals.
The financial terms of the deal were not disclosed.
OCM Capital Partners
The subsidiary of CI Financial Corporation has agreed to acquire Thousand Oaks Financial Corporation, a RIA firm based in California operating under the name Professional Planning.
Professional Planning offers financial planning and wealth management services and the team will integrate into the One Capital Management (OCM) advisory team.
CI purchased a majority interest in OCM earlier this year as part of a strategy to build a growing wealth management business in the US.
The transaction is expected to close in September 2020. The financial terms were not disclosed.
People moves
Farm Bureau Financial Services
Angelina Dietz-Robinson has joined the firm as a wealth management adviser.
Prior to FBFS, she worked as an adviser for State Bank, Powell Financial Group, and TIAA.
MAI Capital Management
The RIA firm has appointed Kathy Nalywajko as managing director and business development officer.
Nalywajko joins from Ethic Wealth Advisors, where she served as managing director and head of client development.
BNY Mellon Wealth Management
The wealth firm has named Larry Tekler as senior director and team leader in Newport Beach, California.
Tekler joins BNY Mellon Wealth Management from a personal family office he founded, focused on private investments in individual real estate transactions and partnership investments.
Raymond James
The US firm has hired financial advisers Eric Hobin, Jiles Robinson, Kristen Ragusin, Antonio Sordillo, and Jason Whittier to its offices in Burlington and Boston, Massachusetts.
They previously worked at Merrill Lynch’s Burlington office.
Sordillo, Hobin, Robinson and Whittier now operate as Evergreen Financial Partners of Raymond James.
Joining them at Raymond James are senior registered client service associate Eryn Whittier and registered client service associate Josh Franklin.
Ragusin has launched her own practice at Raymond James’ Boston office.
