According to the article, Woodbury Financial Services announced its acquisition of Capital One Investing’s $10 billion in-branch, full-service, investment management and brokerage division. The deal is expected to close in the second or third quarter. Earlier in the year, E-Trade announced the purchase of Capital One’s 1 million retail brokerage accounts with $18 billion in client assets for $170 million.
Brooks commented, “This deal is further evidence of PE’s interest in the IBD and RIA space for its recurring revenue and scalable business model,” Hamner says. “I would not be surprised to see more deals like this one as an aging investment management industry looks to PE as a viable exit opportunity in a relatively favorable market environment.”
Brooks is active in valuation work for investment management firms. Alongside Matthew R. Crow, ASA, CFA, President of Mercer Capital, Brooks publishes research related to the asset management industry and is a regular contributor to Mercer Capital’s blog regarding the investment management community, RIA Valuation Insights.
For more information, contact Brooks Hamner at 901.322.9714 or firstname.lastname@example.org