Home / transaction / Berkshire Global Advisors acted as financial advisor to Capital One Financial
Berkshire Global Advisors acted as financial advisor to Capital One Financial
  • has sold a division to
  • Berkshire Global Advisors acted as financial advisor to Capital One Financial

  • Date: February 2018
  • Sector: Securities and Investment Banking
  • Sub-Sector: Other
  • Region: North America
  • Seller AUM: $10.3 Billion
  • Seller Details
    Capital One Financial Corporation is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $243.7 billion in deposits and $365.7 billion in total assets as of December 31, 2017. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels.

    Buyer Details
    Woodbury Financial Services is an independent broker-dealer based in Oakdale, Minnesota and a member of the Advisor Group network. Woodbury, which has more than 1,200 advisers and $39 billion in assets under administration, recruited 213 new advisors in 2017 with $5 billion in AUA. Headquartered in Phoenix, Arizona, Advisor Group is comprised of FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial, and Woodbury Financial Services. The network has 5,000 advisors overseeing approximately $190 billion in client assets.

    Transaction Summary
    Woodbury Financial Services has acquired Capital One Investing’s $10 billion investment management and brokerage division. Woodbury, which has about 1,200 affiliated advisors and is part of the Advisor Group of independent broker-dealers, says that the Capital One unit and select financial advisors should complete their transition to the IBD by the end of second quarter (July 31) or in the early part of the third quarter. As a result of the transaction, Capital One will wind down its remaining broker-dealer services. This move furthers Capital One’s broader strategy to exit peripheral businesses and focus on its core banking and national credit-card operations.