Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Post-Acquisition, This ETF Strategist Is a Buyer Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, February 19, 2015

Post-Acquisition, This ETF Strategist Is a Buyer

Reported by Neil Anderson, Managing Editor

CLS Investments' [profile] parent is being sold, and after the deal CLS itself is going to be hunting for its own acquisitions.

On Monday Boston-based private equity player TA Associates unveiled a deal to buy Omaha-based NorthStar Financial Group, which owns CLS as well as Gemini Fund Services and several other companies. The deal will leave TA with a majority stake in NorthStar and the NorthStar companies' managers with a minority stake.

For CLS CEO Todd Clarke, the NorthStar sale means more dry powder in his hands to make deals. He's interested in other asset managers with unique strategies or distribution, as such a deal, he says, "would be a perfect tuck-in on the NorthStar platform" thanks to Gemini.

"The addition of TA isn't just capital to do acquisitions," Clarke tells MFWire. "It's also the addition of expertise on how to do acquisitions."
"We're also looking outside of just the traditional asset management companies," Clarke adds. "We're looking at some practice management companies."

Clarke might buy financial planning tools, or research and analytic tools, all for CLS' advisor allies.

"Everything we do is through the FA model, either independent broker-dealers or RIAs," Clarke says. "We want to make sure that those advisors have the tools that they need to be competitive in the marketplace as they're competing against wires and roboadvisors."

CLS is an ETF strategist that also offers its own mutual funds, the AdvisorOne funds. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use