Industry

The mergers, acquisitions and advisor moves announced the week of March 8, 2021.

Jeffrey Kaufman and John Tassone leave two months after SVB Financial agreed to buy Boston Private for $900 million.

This marks CI’s 15th deal since entering the U.S. RIA market in January 2020, bringing its total U.S. assets to about $50 billion.

The company previously combined Abbot Downing and the private bank, which serves clients with assets of more than $2.5 million, under one leader.

The move reunites former United Capital acquisition executives Matt Brinker and Allen Darby.

iM Global will use the asset management firm, which has about $4 billion in assets under management, as an extension of its distribution subsidiary, iM Global U.S., and plans to keep the wealth management unit independent.

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The Department of Labor also announced it would not enforce a rule concerning proxy voting, saying it had heard from stakeholders that the rules had a 'chilling effect on appropriate integration of ESG factors in investment decisions.'

Cetera Advisors gets into the M&A game, buying its first RIA from another Genstar Capital–backed firm, Ascensus.