Reverence Capital to buy Advisor Group from Lightyear Capital and PSP Investments for $2.3bn.

Reverence Capital Partners, a private investment firm focused on investing in financial services businesses, completed its $2.3bn acquisition of Advisor Group, an independent wealth management platform, which supports over 7k financial advisors with $268bn of client assets, from PSP Investments and Lightyear Capital. "Advisor Group is one of the premier wealth management platforms in the US 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," Milton Berlinski, Reverence Capital Co-Founder and Managing Partner.