Deals and People

Retirement Industry People Moves

Lincoln Investment Capital Holdings Purchases Legend Group Holdings; Morgan Lewis Extends Employee Benefits Services with Three New Partners; AllianzGI Acquires Sound Harbor Partners; and more

By Javier Simon editors@strategic-i.com | January 06, 2017
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Lincoln Investment Capital Holdings Purchases Legend Group Holdings

Cetera Financial Group, a network of independent broker-dealer firms, has announced the sale of Legend Group Holdings to Lincoln Investment Capital Holdings. Financial terms were not disclosed.

The Legend Group includes an independent broker-dealer and registered investment adviser (RIA) focused on supporting the delivery of professional guidance by financial advisers to 403(b) retirement savings plans. It is owned by Cetera affiliate First Allied Holdings.

"We're very excited to complete this transaction, which reinforces Lincoln Investment's leadership position in the market for retirement plan advice,” says Ed Forst, president and CEO of Lincoln Investment. “We welcome The Legend Group's financial advisers to the Lincoln Investment community, and we look forward to supporting them in growing their businesses by effectively providing the professional advice their mass affluent and high net worth clients need."

NEXT: Morgan Lewis Extends Employee Benefits Services with Three New Partners