M and A
Deals Of The Day: The Latest In Wealth Management M&A – Cetera, SS&C
The latest wealth management moves and appointments in North America.
Cetera
Cetera
Financial Group, a US network of financial professionals, has
brought Mutually Focused Financial Advisors into its embrace.
The firm is led by industry veterans Mark Forberg and Mike Fasano, who were formerly affiliated with Associated Investment Services. Forberg and Fasano have more than 40 years of combined experience and provide financial planning and wealth management services to clients.
California-based Cetera attracted a record $3.6 billion in assets in the second quarter of 2022. It oversees about $353 billion in assets under administration and $122 billion in assets under management, as of December 31, 2021.
SS&C
SS&C
Technologies has bought the customer relationship management
business of Tier1 Financial Solutions in an all-cash deal.
Tier1 CRM, based in Toronto, provides sell-side CRM solutions targeting capital markets and investment banks. Specific financial details were not disclosed.
As a result of the deal, SS&C will acquire more than 30 enterprise clients across the US, Canada, and the UK. The firm’s 60-plus employees in Canada and the US will join SS&C, reporting to Derek Landi, vice president and general manager, SS&C Salentica.
The acquired firm provides research services, trading, and sales teams within capital markets groups, as well as a deal management CRM experience to investment banks.
