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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Kobren Insight Management
  • E*Trade Financial Corporation
  • Wealth Management Firms
  • August 9, 2005
  • $1 Billion

Seller Details

Kobren Insight Management (KIM) is a registered investment advisor and one of the largest independent investment advisory firms using mutual funds in the country, managing approximately $1 billion. In addition to managing private accounts and variable annuities for a select group of about 800 individual and institutional clients nationwide, KIM also serves as the investment advisor to the Kobren Insight Funds, an affiliated family of mutual funds.

Buyer Details

The E*TRADE FINANCIAL family of companies provide financial services including trading, investing, banking and lending for retail and institutional customers. Securities products and services are offered by E*TRADE Securities LLC (Member NASD/SIPC). Bank and lending products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.

Transaction Summary

The acquisition advances E*TRADE FINANCIAL's regional advisor strategy, offering personalized wealth management services to its retail and Corporate Services clients with over $250,000 in assets.

As a subsidiary of E*TRADE FINANCIAL, Kobren Insight Management will continue to operate under the Kobren name, retaining both its personnel and location. The acquisition will bring two recognized wealth management influencers to the E*TRADE FINANCIAL team, Eric Kobren, President and CIO, and Rusty Vanneman, CFA. Six analysts, who conduct over 600 mutual fund portfolio manager interviews per year, will also join the E*TRADE family. Armed with this in-depth insight, and coupled with the firm's proprietary analytical tools, Kobren Insight Management has a reputation for designing personalized portfolios to meet a variety of client objectives.

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