Investment Advisory News

The Investment Advisory category is for all Investment Advisory related posts.

Live Oak Bank Crosses Investment Advisory Lending Milestone

By |July 22nd, 2014|

$100 Million in loans have been made to Investment Advisors nationwide

WILMINGTON, NC – July 1, 2014 – Live Oak Bank, the nation’s only bank whose sole mission is to lend to independent business owners, announced today that it has  extended a total of $100 million dollars in loans to Investment Advisors, reaching this milestone after only sixteen months of lending activity.

Advisors have taken advantage of the Bank’s lending programs to acquire other firms, purchase books of business, finance succession plans, tuck-in advisors to their platforms, gain access to working capital and buy their corporate real estate.

“When we launched this specialty, there was a real lack of capital available to financial advisors who wanted to grow their business. By reaching this milestone we have proven our theory that advisors are eager to leverage financing to achieve their objectives,” said Steve Smits, General Manager of Investment Advisory Lending.

Live Oak Bank’s Investment Advisory vertical debuted in late 2012. With financing in great [...]

Fidelity Launches New Program To Help Independent Advisors

By |June 11th, 2013|

FIDELITY LAUNCHES NEW PROGRAM TO HELP INDEPENDENT ADVISORS GROW THROUGH MERGERS AND ACQUISITIONS
Announces Strategic Alliance with Live Oak Bank to Offer Financing Options
BOSTON, June 11, 2013 — Fidelity Institutional Wealth Services, a division of Fidelity Investments®, today unveiled a new program designed to help registered investment advisors (RIAs) plan and execute mergers and acquisitions (M&A). This comprehensive offering includes the three components that advisors need to successfully execute an effective M&A program: insights and education regarding M&A strategy, connections to firms that are looking to buy another firm or be acquired and access to financing.

According to a 2011 Fidelity studyi, within the next three years, nearly two-thirds (63 percent) of RIAs that participated in the study would consider acquiring another firm, while more than one-third (38 percent) of the participating advisors would consider merging with another firm. Fewer — just 16 percent of the participating firms — were interested in selling their firms.

“While many RIAs are interested [...]

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    Live Oak Bank Continues to Evolve with New Investment Advisory Financing Vertical

Live Oak Bank Continues to Evolve with New Investment Advisory Financing Vertical

By |November 2nd, 2012|

Tuesday, November, 20, 2012 – Wilmington, NC - Live Oak Bank is proud to announce a major commitment to providing much needed financing in the Investment Advisory industry. After extended industry research, Live Oak has gathered a team of lenders and industry experts to address the gap in financing for Independent Investment Advisors. The Live Oak lending product offerings include merger & acquisition, succession funding, partner buy-in/out, expansion, operating capital, refinance, loan payoff, start-up and real estate.

In speaking with numerous investment advisors and industry resources, it became clear that many advisors had strategic plans for succession or expansion without a clear financial resolution to precede these transactions. With no formal industry lending programs available, Live Oak has come up with the valuable solution to fill this gap and provide real cash flow lending. Through leveraging the success of other LOB lending verticals, the bank is able to view collateral differently coupled with their niche industry focus.

“We clearly see a gap [...]

Steve Smits Joins Live Oak Bank

By |February 13th, 2012|

Former Associate Administrator for the Office of Capital Access at the SBA

Tuesday, February 14, 2012 – Wilmington, NC – On February 6th, Live Oak Bank proudly welcomed Steve Smits, former Associate Administrator for the Office of Capital Access at the Small Business Administration, in the role of General Manager. While in Washington, Smits oversaw the agency’s programs and operations that allowed for the expansion of funds across more industries, providing financial assistance to more small business owners and entrepreneurs. He also oversaw the agency’s reforms to make it more responsive to both borrowers and lenders, which includes the implementation of the provisions to the Small Business Jobs Act which was signed into law by President Obama in September 2010.

Before coming onboard with the SBA in October 2010, Smits was a leading lender in the small business community. His previous career experience is comprised of managing SBA loan operations and portfolios for top financial institutions such as Quadrant Financial, PNC, FCNB Bank [...]