Private equity firm Lovell Minnick Partners is buying a 20 percent stake in Lincoln Investment Planning Inc., a broker-dealer.

Lincoln, headquartered in Wyncote, Pennsylvania, provides investment, wealth and retirement planning services. The company and affiliate Capital Analysts Inc. have more than $24 billion in client assets under management. Terms of the deal weren’t disclosed.

Lincoln's acquisition history includes both Capital Analysts, which it bought in 2012, and Great American Advisors Inc., a group purchased in 2010.

Lovell Minnick, of Radnor, Pennsylvania, focuses on lower middle-market financial and business services investments. In March, the Lovell Minnick exited financial planning business Mercer Advisors, which was picked up by another PE firm – Genstar Capital.

Overall, dealmakers are expecting financial services M&A to increase over the next year, according to Mergers & Acquisitions Mid-Market Pulse index, published in partnership with McGladrey LLP.  There have been several wealth management transactions lately, including Stifel Financial Corp.'s deal for Barclays plc's U.S. business earlier in June, and the Colony Group's purchase of CapGroup Advisors, an institutional consulting firm, in March.

 

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