We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Raymond James (RJF) to Buy NWPS Holdings, Enhance Offerings
Read MoreHide Full Article
Raymond James (RJF - Free Report) recently entered into an agreement to acquire NWPS Holdings, Inc. Terms of the deal, likely to conclude before Dec 31, 2020, have not been disclosed.
The Seattle, WA-based NWPS Holdings specializes in retirement plan administration, consulting, actuarial and administration services. It has more than 400,000 participants and manages more than $35 billion in plan assets.
Post-acquisition, NWPS Holdings' 160 employees will continue working at the current locations and under the same brand name. Its leadership team, including Tim Wulfekuhle, president and chief executive officer (CEO), will become part of the Raymond James Private Client Group. This will further enhance the offerings of Raymond James' Institutional Fiduciary Solutions department.
Scott Curtis, president of Raymond James’ Private Client Group, said “We’re confident our advisors will benefit from NWPS’s excellence in this area, and that advisors considering Raymond James will find the capability compelling. Along with our industry leading technology solutions, focus on service and financial planning expertise, Raymond James continues to set a high bar.”
The acquisition is anticipated to be value accretive to Raymond James as the new solutions created by this year's Setting Every Community Up for Retirement Enhancement Act (SECURE) will broaden the investable market for employees looking to manage their retirements.
In the past year, shares of Raymond James have appreciated 3.7%, underperforming the 18.1% rally of the industry it belongs to.
Amid the pandemic-induced economic slowdown, several finance companies are taking steps to focus on core businesses and restructuring operations with an aim to improve profitability. Recently, Farmers & Merchants Bancorp, Inc. (FMAO - Free Report) announced the acquisition of the assets and clients of Adams County Financial Resources.
Last month, People’s United Financial’s banking subsidiary, People's United Bank, completed the divesture of People's United Insurance Agency to AssuredPartners. Further, in September, Umpqua Holdings Corporation signed an agreement to divest the wealth management business to Steward Partners Global Advisory, LLC.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Raymond James (RJF) to Buy NWPS Holdings, Enhance Offerings
Raymond James (RJF - Free Report) recently entered into an agreement to acquire NWPS Holdings, Inc. Terms of the deal, likely to conclude before Dec 31, 2020, have not been disclosed.
The Seattle, WA-based NWPS Holdings specializes in retirement plan administration, consulting, actuarial and administration services. It has more than 400,000 participants and manages more than $35 billion in plan assets.
Post-acquisition, NWPS Holdings' 160 employees will continue working at the current locations and under the same brand name. Its leadership team, including Tim Wulfekuhle, president and chief executive officer (CEO), will become part of the Raymond James Private Client Group. This will further enhance the offerings of Raymond James' Institutional Fiduciary Solutions department.
Scott Curtis, president of Raymond James’ Private Client Group, said “We’re confident our advisors will benefit from NWPS’s excellence in this area, and that advisors considering Raymond James will find the capability compelling. Along with our industry leading technology solutions, focus on service and financial planning expertise, Raymond James continues to set a high bar.”
The acquisition is anticipated to be value accretive to Raymond James as the new solutions created by this year's Setting Every Community Up for Retirement Enhancement Act (SECURE) will broaden the investable market for employees looking to manage their retirements.
In the past year, shares of Raymond James have appreciated 3.7%, underperforming the 18.1% rally of the industry it belongs to.
Currently, Raymond James carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Amid the pandemic-induced economic slowdown, several finance companies are taking steps to focus on core businesses and restructuring operations with an aim to improve profitability. Recently, Farmers & Merchants Bancorp, Inc. (FMAO - Free Report) announced the acquisition of the assets and clients of Adams County Financial Resources.
Last month, People’s United Financial’s banking subsidiary, People's United Bank, completed the divesture of People's United Insurance Agency to AssuredPartners. Further, in September, Umpqua Holdings Corporation signed an agreement to divest the wealth management business to Steward Partners Global Advisory, LLC.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>