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Year Event 2015 Blucora announces acquisition of HD Vest [3]: 2019 Avantax closed the acquisition of all the issued and outstanding common stock of 1st Global, a tax-focused wealth management company.
HilltopSecurities is a financial services company headquartered in Dallas. The company is a broker-dealer and Registered Investment Adviser that provides investment banking and financial advisory services. [39] It was founded in January 2016 from the merger of two Dallas-based financial firms, FirstSouthwest Company and Southwest Securities ...
Cetera was established in February 2010 when Dutch multinational banking and financial services corporation ING Group sold three broker-dealers to private equity firm Lightyear Capital. The three broker-dealers—Financial Network Investment Corporation, founded in 1983, Multi-Financial Securities Corporation, founded in 1981, and PrimeVest ...
LPL Financial Holdings Inc. (commonly referred to as LPL Financial) was founded in 1989 and is considered the largest independent broker-dealer in the United States. As of 2021 the company had more than 17,500 financial advisors, [4] over US$1 trillion in advisory and brokerage assets, [5] and generated approximately $10.3 billion in annual revenue for the 2023 fiscal year. [6]
As a result, in January 2019, Victory Capital announced it would move its headquarters from Cleveland, Ohio to San Antonio, Texas. [19] Both actions were completed in 2019. [20] In 2021, Victory Capital made a series of acquisitions where it acquired THB Asset Management, New Energy Capital Partners and WestEnd Advisors. [21]
Broker-dealers are at the heart of the securities and derivatives trading process. [1] Although many broker-dealers are "independent" firms solely involved in broker-dealer services, many others are business units or subsidiaries of commercial banks, investment banks or investment companies.
The Wall Street Journal reported in 2015 that Bank of America intends to increase by twofold Merrill Edge's banking branch employee number. [9] According to Reuters, the service's "financial solution advisors" are "licensed broker-dealers and bankers who are paid a salary", whereas full-service brokers receive commissions. [7]
Rank #31 in the Business Insurance 2016 list of 100 Largest Brokers of U.S. Business based on 2015 revenue [2] Rank #33 of the largest U.S. employee benefit brokers in a list published by Employee Benefit Advisor and Employee Benefit News [8] Rank #24 in the Insurance Journal 2016 list of the top 100 property/casualty agencies [9]