Back To List Print Page
  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Retirement Advisors of America
  • E*Trade Financial Corporation
  • Wealth Management Firms
  • May 30, 2006
  • $1 Billion

Seller Details

Retirement Advisors of America ("RAA") is a registered investment advisor based in Dallas that provides retirement and financial planning services for persons associated with the airlines industry, corporate executives and other high net worth individuals. The business maintains nearly 1,300 client relationships, with expected annual revenues of approximately $9.3 million in 2006.

Buyer Details

The E*TRADE FINANCIAL family of companies provides financial services including trading, investing, banking and lending for retail and institutional customers. Securities products and services are offered by E*TRADE Securities LLC. 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 continues the advance of E*TRADE FINANCIAL's regional advisor strategy throughout the state of Texas, 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, RAA will retain its personnel, name and location. Scott Frost, Chief Executive Officer of RAA, will continue to lead the firm's investment management efforts. Along with its strategic acquisitions of Howard Capital Management (Los Angeles and New York), Kobren Insight Management (Boston) and the investment adviser group of Harrisdirect LLC, E*TRADE FINANCIAL has nearly $3 billion assets under management in aggregate. E*TRADE FINANCIAL will continue to look toward acquiring established wealth management firms in key customer markets including New York City, Philadelphia, Greater Washington DC, Atlanta, Orlando, Chicago, Denver, Scottsdale, San Diego, Silicon Valley and San Francisco.

Back To List