On Thursday, Shares of Charles Schwab Corp (NYSE:SCHW), gained 1.22% to $29.76.
At a time when independent registered investment advisor (RIA) firms’ revenue and profitability are reaching new highs, the industry is seeing an uptick in merger and acquisition (M&A) activity, based on the number of deals in addition to the average deal size. According to the latest data compiled by Schwab Advisor Services, total and average deal size rose during the first six months of 2015 indicating that the industry has both the financial means and the appetite to make planned moves in order to achieve scale and gain competitive strength.
The first half of 2015 closed with 37 accomplished transactions, up from 29 over the same period in 2014, according to the data. Total transaction value raised 53 percent to $49.8 billion in assets under administration (AUM), a jump from $32.6 billion in the first half of 2014. Meanwhile, average deal size reached $1.3 billion in AUM, marking the highest average deal value since 2009, when the average transaction size for the entire year was $1.7 billion in AUM.
The Charles Schwab Corporation, through its auxiliaries, provides wealth administration, securities brokerage, banking, money administration, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services.
Shares of Hilton Worldwide Holdings Inc (NYSE:HLT), inclined 1.35% to $24.72, during its last trading session.
Hilton Worldwide declared parental leave policies that will be the best offered by any major global hospitality company in the United States and Puerto Rico.
The benefits will be available to Team Members at owned and managed hotels and corporate offices1 with one year of service or greater. Starting on January 1, 2016, the benefits will comprise:
- All new parents – counting fathers and adoptive parents – will receive two weeks of fully paid parental leave.
- New mothers who give birth will receive an additional eight weeks of maternity leave, for a total of 10 weeks of fully paid leave.
Hilton Worldwide Holdings Inc., a hospitality company, owns leases, manages, develops, and franchises hotels, resorts, and timeshare properties worldwide. The company operates hotels under 12 brand names, counting Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio-A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton, and Hilton Grand Vacations.
Finally, Ritchie Bros. Auctioneers (USA) (NYSE:RBA), ended its last trade with 2.55% gain, and closed at $27.36.
Ritchie Bros., will sell 7,350+ equipment items and trucks at its unreserved public auction in Edmonton, AB next week (September 9 – 11, 2015). More than 630+ trailers, 200+ truck tractors, 120+ compactors, 90+ excavators, 90 crawler tractors, 70+ boom trucks, 65+ wheel loaders, 40 articulated dump trucks, 40+ cranes, 40+ farm tractors, 290 pickup trucks, custom and classic cars, and much more will be sold. Oil and gas equipment will be sold on Day 3 of the auction (September 11). Bidders can take part in person, online at rbauction.com and by proxy.
“With more than 7,350 items being sold over three days, our next unreserved truck and equipment auction is the only auction in the Edmonton area with something for everyone,” said Ryan Eacrett , Regional Sales Manager, Ritchie Bros . “Buyers will find a wide range of top truck and equipment brands for their industry, counting oil and gas, construction, transportation, forestry, farming and more. As always, all equipment will be sold without minimum bids or reserve prices. More than 850 owners have already consigned to the auction, and we will be adding more equipment up until auction day. Visit rbauction.com for the latest equipment information.”
Ritchie Bros. Auctioneers Incorporated, together with its auxiliaries, sells industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine, and real estate industries through its unreserved auctions and online marketplaces.
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