Core Insights - Creative Planning, a US-based wealth management firm, has acquired Burt Wealth Advisors, marking its 15th acquisition in two years and adding $1 billion in assets under management (AUM) to its portfolio [1][4] Company Overview - Burt Wealth Advisors, established in 1985, specializes in financial planning services such as retirement planning, tax strategies, education funding, estate planning, and business planning [1] - The firm also offers portfolio and investment management, along with support for wealth transfer, estate, and charitable planning [2] Client Benefits - Burt Wealth's leadership emphasized that joining Creative Planning allows clients to access a comprehensive suite of services while maintaining the personal touch that has characterized Burt Wealth since its inception [3] - Both firms prioritize client interests, long-term relationships, and a collaborative environment for advisors [3] Creative Planning's Scale - Creative Planning manages and advises on over $390 billion in assets across all 50 states and 90 countries as of September 30, 2025 [4] - The firm provides a wide range of services, including investment management, retirement planning, trust services, tax planning, and family office solutions [4] Leadership Statements - Peter Mallouk, president and CEO of Creative Planning, expressed enthusiasm about the acquisition, highlighting Burt Wealth's experience and commitment to client-first values as aligning with Creative Planning's vision [5]

Core Insights - Raymond James Financial, Inc. has set a new price target of $194, indicating a potential increase of 17.59% from its current stock price of $164.98 [1][5] - The competitive credit market is characterized by tight spreads for both high yield and investment grade credit, which may impact the company's loan quality and pricing strategies [2][5] - The stock has shown significant volatility, with a trading range over the past year from a low of $117.57 to a high of $177.66 [3][5] Company Performance - The current stock price of RJF is $164.98, reflecting a decrease of 0.64% or $1.06 [3] - The market capitalization of Raymond James stands at approximately $32.89 billion, indicating a strong position in the financial services industry [4] - The trading volume on the NYSE for RJF is 2,533,921 shares, showcasing active market participation [4]

Acquisition Overview - iA Financial Group will acquire 100% of RF Capital Group for $20.00 per share[8] - The purchase price is $597 million, representing 1.5% of RF Capital's AUA as of June 30, 2025[8] - The transaction is valued at 6.7x RF Capital's last 12 months fully synergized EBITDA as of March 31, 2025[8] Strategic Benefits - The partnership adds over $40 billion in AUA and 189 advisors to iA Wealth[6] - iA Wealth's advisory network will increase to over 2,750 partners with a combined ~$175 billion in AUA[6] - The acquisition strengthens iA Wealth's presence in the high-net-worth segment[6] Financial Impact - The transaction is expected to be neutral to core earnings in the first year and accretive to core EPS by $0.15+ in the second year[6] - Transaction and integration costs are estimated at $60 million before tax, to be incurred over the first three years[8] - The purchase price is expected to reduce iA's solvency ratio by approximately 6 percentage points and reduce capital available for deployment by ~$0.6 billion[8] RF Capital Overview - RF Capital has $40 billion in AUA[14] - RF Capital's revenue is segmented with 82% from wealth management[13] - RF Capital has 189 advisors/143 teams with an average AUA of $270 million per team[15]