Reverence Capital Acquires Advisor Group

Posted on May 10th, 2019 at 1:18 PM
Reverence Capital Acquires Advisor Group

From the Desk of Jim Eccleston at Eccleston Law LLC:

In the largest M&A deal of this year, Reverence Capital Partners has announced its 75% purchase of Advisor Group from Lightyear Capital, PSP Investments, and other shareholders on May 9th, 2019. The cost of doing business? More than $2 billion was spent to acquire the independent broker dealer.

Advisor Group is one of the nation’s largest networks of financial advisors with nearly 7,000 advisors and $268 billion in client assets. There are four broker-dealers within the Advisor Group network: FSC Securities Corp., Royal Alliance Associates Inc., Sagepoint Financial Inc., and Woodbury Financial.

Reverence Capital, a private investment firm founded in 2013, claims it is not interested in changing the current structure of the successful platform. Reverence Capital claims it will keep Advisor Group independent and privately-owned.

The attorneys at Eccleston Law assist advisors in planning their transition, negotiating their transition and employment agreements, and defending them when their former firms file litigation and arbitration.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, reverence capital, lightyear capital, advisor group, psp investments

Return to Archive

TESTIMONIALS

Previous
Next

Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

February 22, 2024
Key Considerations for Advisors When Assessing the Financial Soundness of Annuities

While rating agencies like Fitch and S&P Global Ratings generally highlight the strength of annuity issuers, advisors still should scrutinize certain factors in their assessment process.

February 21, 2024
SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business

As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.

February 20, 2024
Challenges Persist: Firms Struggle to Comply with Regulation Best Interest

FINRA's annual report for 2024 reveals a concerning trend among broker-dealers, with numerous instances of violations of Regulation Best Interest (Reg BI).