“We are extremely fortunate to bring such a highly sought after and respected business into our investment portfolio. Advisor Group is one of the premier wealth management platforms in the U.S. and together with Reverence Capital’s investment, wealth management expertise and industry relationships, the company is uniquely positioned to identify and tackle growth opportunities across the business,” Berlinski said.
Price maintained that Advisor Group doesn't have future acquisitions written into its five-year plan, but it has the resources to complete deals and is willing to consider them in a consolidating industry. "We will play—but we pass on far more deals [than we buy other firms]," he said. The three criteria Advisor Group employs when considering buying other firms are the cultural fit, the risk parameters and the price, he added.