Advisor Group, a network of independent financial advisory firms, has agreed to take over Signator Investors, a US-based broker-dealer owned by John Hancock.
Signator has more than 1,800 advisers managing around $50bn in assets, while Advisor Group has over 5,000 advisers managing around $190bn in assets.
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Under the agreement, Signator will be merged into Royal Alliance Associates, one of the four independent firms in Advisor Group’s network.
Both Royal Alliance and Signator operate under a Super Office of Supervisory Jurisdiction business model. The merger of the two entities will enable Signator advisers to benefit from Royal Alliance’s holistic wealth management solutions, marketing services, and business-building support, Advisor Group said.
Royal Alliance president and CEO Dmitry Goldin said: “We are confident that our decades of experience working with business owners and independent advisors will enable us to deliver immediate value to Signator’s advisers.”
The deal, whose terms were not disclosed, is expected to close in the fourth quarter of this year.
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By GlobalDataAdvisor Group president and CEO Jamie Price said: “With Signator and Royal, we immediately saw the compatibility between the two firms, which have a shared focus on the Super OSJ business model and independent adviser community.”
