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- Date Announced
- Seller AUM
- Advanced Equities Financial Corp. (First Allied)
- Lovell Minnick Partners
- Securities and Investment Banking
- August 22, 2011
First Allied is a full-service, independent broker/dealer with approximately 1,000 financial advisors in 500 branches located throughout the United States. First Allied includes the independent broker/dealer, registered investment advisor, wealth management, insurance services and pension services businesses that make up the independent brokerage group of Advanced Equities Financial Corp. (Advanced Equities). Founded in 1994 as a privately held company, First Allied remains committed to its vision of providing independent financial advisors with innovative products, unparalleled education, affluent lead generation programs, a suite of differentiated products, integrated wealth management solutions and access to subject matter expertise. First Allied fosters an environment that serves and nurtures advisors who want to increase the productivity, size, and profitability of their individual practices.
Advanced Equities is one of the industry's most progressive financial service firms focusing on retail, institutional securities and venture capital investment banking. Their flagship company, Advanced Equities, Inc., (AEI) specializes in late-stage private equity finance for the U.S. technology sector. AEI bridges the gap between venture money and traditional corporate finance, providing investors with access to the technology sector’s elusive late-stage investments.
Lovell Minnick Partners LLC is a private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling $800 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, securities brokerage and investment banking, financial consulting, and commercial and trust banks.
First Allied, a leading independent financial services firm, announced that its management team and Lovell Minnick have reached an agreement to acquire First Allied from Advanced Equities. Upon closing of the transaction, expected to take place in the fourth quarter 2011, First Allied will become an independent company and continue to operate under the First Allied brand.
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