Royal Alliance Brings On Board Lion’s Share of John Hancock's Signator FAs After Acquisition
Independent broker-dealer Royal Alliance’s acquisition of Signator Investors appears to have been a success, with 96% of Signator’s advisors coming on board, Royal Alliance says in a press release.
The 1,860 financial advisors represent 93% of the roughly $50 billion in assets at Signator, a dual-registered broker-dealer and investment advisor that Royal Alliance bought from John Hancock, Dmitry Goldin, president and CEO of Royal Alliance, says in the press release. The companies didn’t disclose the deal’s financial details.
Royal Alliance expected many of Signator’s advisors to join because of the “cultural similarities” between the two firms, both of which are focused on independent advisors and the super office of supervisory jurisdiction business model, Goldin said in June.
The addition more than doubles the advisor ranks at Royal Alliance, which is part of the Advisor Group, to more than 3,600.
"This acquisition continues the momentum we saw in 2017 when we had our best recruiting year ever," said Jamie Price, president and CEO of Advisor Group, says in the press release.
Advisor Group, which includes the subsidiaries Royal Alliance, FSC Securities Corp., SagePoint Financial, Inc. and Woodbury Financial Services, Inc., now serves more than 6,000 independent financial advisors managing over $200 billion, according to the press release.