Morgan Stanley Acquires Eaton Vance

Morgan Stanley to Acquire E*TRADE Financial Corporation

February 20, 2020

Financial Services

Morgan Stanley agreed to acquire E*TRADE in an all-stock transaction valued at about $13 billion, with E*TRADE stockholders receiving 1.0432 Morgan Stanley shares per E*TRADE share. The deal expands Morgan Stanley’s Wealth Management scale and digital capabilities by combining its advisor-driven business with E*TRADE’s direct-to-consumer brokerage, digital banking and workplace stock-plan capabilities. The transaction is expected to deliver cost and funding synergies and is subject to customary regulatory and shareholder approvals.

Mercer Advisors Acquires Edward Vance Investment Management

January 7, 2025

Wealth Management

Mercer Global Advisors (Mercer Advisors) acquired Edward Vance Investment Management, a Georgia-based investment advisory and financial planning firm, adding approximately $41 million in assets under management. The deal strengthens Mercer Advisors' presence in Atlanta and expands its footprint in the Southeast by bringing Edward Vance and his client relationships onto Mercer's national RIA platform.

Pathstone Acquires Eaton Vance WaterOak Advisors' Investment Advisory and Wealth Management Business

March 31, 2022

Wealth Management

Pathstone has agreed to acquire certain assets of Eaton Vance WaterOak Advisors ("WaterOak"), adding roughly $3 billion in assets under advisement and expanding Pathstone’s footprint in Florida. The deal brings WaterOak’s team and technology onto Pathstone’s partner-owned platform (institutionally backed by Lovell Minnick Partners), increasing Pathstone’s total AUA to more than $35 billion and its headcount to about 235.

Victory Capital Acquires WestEnd Advisors

November 4, 2021

Financial Services

Victory Capital Holdings, Inc. entered into a definitive agreement to acquire 100% of WestEnd Advisors, LLC, a Charlotte-based asset manager that provides ETF-based model allocation strategies and separately managed accounts with approximately $18 billion in assets. The deal was announced November 4, 2021 (upfront consideration of $480 million plus deferred earnouts) and the acquisition closed on December 31, 2021.

Bain Capital Takes Envestnet Private in $4.5B Transaction

July 11, 2024

Financial Services

Bain Capital, with participation from Reverence Capital and Norwest, agreed to acquire Envestnet for $63.15 per share in a transaction valuing the company at approximately $4.5 billion. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors committed to minority investments in the private company; the deal is intended to support Envestnet's growth and further investment in its wealth management platform.

Milliman Acquires MorVest Capital

December 8, 2025

Financial Services

Milliman, a global actuarial and consulting firm, has acquired MorVest Capital, a Dallas-based provider of mortgage servicing rights (MSR) analytics, valuation, and advisory services. The deal expands Milliman’s mortgage analytics, MSR valuation, financing and hedging capabilities to better serve lenders, servicers and capital providers.