US-based asset manager National Holdings has agreed to buy investment adviser and broker-dealer Winslow, Evans & Crocker.

Financial terms of the deal were not revealed.

Winslow was set up in 1991. Headquartered in Boston, Massachusetts, Winslow manages more than $2.5bn in assets.

The business has over 50 financial professionals. Among these professionals are certified financial planners, investment adviser representatives, financial consultants, as well as brokers.

Winslow chairman Tina Maloney said: “National shares our culture and commitment to our clients and we believe this acquisition is a natural combination that delivers superior and immediate value to National and Winslow.”

The transaction is pending regulatory nod, with completion anticipated in the first fiscal quarter of 2020.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

National expects the deal to add to its gross and adjusted EBITDA margins.

Commenting on the takeover, National chairman and CEO Michael Mullen said: “Our businesses share many key values, importantly sharing in the ‘Client-first’ culture and we believe the Winslow professionals and clients will benefit from National’s larger and broader solutions platform.

“This acquisition aligns well with our corporate goals and is a strong strategic and cultural fit. We look forward to expanding our presence in the Boston area and are pleased to be doing so with such a like-minded firm.”