Foreside Announces Agreement to Acquire Fund Distributor Quasar Distributors, LLC

PORTLAND, Maine–([1])–Foreside Financial Group, LLC (“Foreside”), a provider of regulatory and compliance service and technology offerings to clients in the global asset and wealth management industry, today announced its intent to acquire U.S. Bancorp’s mutual fund and exchange-traded funds (“ETFs”) distribution business, Quasar Distributors. The transaction is expected to close sometime in the first quarter of 2020. The acquisition will make Foreside one of the largest third-party fund distributors globally.

The acquisition will also expand Foreside’s internal team and client base, with the addition of more than 200 current Quasar clients, 26 employees and a new office location in Milwaukee, WI. With over $1 trillion in assets under distribution, Foreside continues to grow its market share rapidly. The transaction will introduce Foreside’s customizable compliance solutions and outsourcing support to all current Quasar clients, while strongly focusing on expanding Foreside’s broker-dealer capabilities, including dealer clearing services.

“Foreside is excited for the potential this acquisition provides to broaden our wide range of compliance and regulatory service offerings to clients based all over the U.S.,” said Dave Whitaker, President of Foreside. “Our inorganic growth continues to fuel our organic growth, as acquisitions like this one allow us to expand our service offerings and provide better strategic counsel and service to our clients.”

Quasar’s current clients range from small to large asset management firms, focused on mutual funds and ETFs. Quasar has carved out a niche during the past 20 years that has opened it up to growth opportunities outside of U.S. Bancorp.

“With Foreside’s investment and core capabilities in the mutual fund and ETF distribution space, Quasar should thrive while remaining true to its strengths. We have historically had a strong working relationship with Foreside and expect that relationship to continue into the future given the complementary nature of our businesses. We appreciate the hard work and dedication the Quasar team has shown during the years and wish them all the best as they transition to Foreside,” said Joe Neuberger, head of U.S. Bank Global Fund Services. “For us, the deal furthers our efforts to focus on our core competencies and grow strategically to create value for employees, customers, communities and shareholders.”

This is Foreside’s third acquisition in 2019. The firm acquired Compliance Advisory Services, a leading regional compliance firm, in October, and NCS Regulatory Compliance, a comprehensive provider of outsourced compliance and regulatory services, in January.

About Foreside

Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion of product through their 20 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit www.foreside.com[2].

About U.S. Bancorp

U.S. Bancorp, with 74,000 employees and $488 billion in assets as of September 30, 2019, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2019 World’s Most Ethical Company. Visit U.S. Bank at www.usbank.com[3] or follow on social media to stay up to date with company news.

Quasar Distributors LLC, member FINRA, SIPC. Quasar Distributors, LLC is a wholly owned subsidiary of U.S. Bancorp.

References

  1. ^ (www.businesswire.com)
  2. ^ www.foreside.com (cts.businesswire.com)
  3. ^ www.usbank.com (cts.businesswire.com)

Source URL: Read More
The public content above was dynamically discovered – by graded relevancy to this site’s keyword domain name. Such discovery was by systematic attempts to filter for “Creative Commons“ re-use licensing and/or by Press Release distributions. “Source URL” states the content’s owner and/or publisher. When possible, this site references the content above to generate its value-add, the dynamic sentimental analysis below, which allows us to research global sentiments across a multitude of topics related to this site’s specific keyword domain name. Additionally, when possible, this site references the content above to provide on-demand (multilingual) translations and/or to power its “Read Article to Me” feature, which reads the content aloud to visitors. Where applicable, this site also auto-generates a “References” section, which appends the content above by listing all mentioned links. Views expressed in the content above are solely those of the author(s). We do not endorse, offer to sell, promote, recommend, or, otherwise, make any statement about the content above. We reference the content above for your “reading” entertainment purposes only. Review “DMCA & Terms”, at the bottom of this site, for terms of your access and use as well as for applicable DMCA take-down request.

Acquire this Domain
You can acquire this site’s domain name! We have nurtured its online marketing value by systematically curating this site by the domain’s relevant keywords. Explore our content network – you can advertise on each or rent vs. buy the domain. Buy@TLDtraders.com | Skype: TLDtraders | +1 (475) BUY-NAME (289 – 6263). Thousands search by this site’s exact keyword domain name! Most are sent here because search engines often love the keyword. This domain can be your 24/7 lead generator! If you own it, you could capture a large amount of online traffic for your niche. Stop wasting money on ads. Instead, buy this domain to gain a long-term marketing asset. If you can’t afford to buy then you can rent the domain.

About Us
We are Internet Investors, Developers, and Franchisers – operating a content network of several thousand sites while federating 100+ eCommerce and SaaS startups. With our proprietary “inverted incubation” model, we leverage a portfolio of $100M in valued domains to impact online trends, traffic, and transactions. We use robotic process automation, machine learning, and other proprietary approaches to power our content network. Contact us to learn how we can help you with your online marketing and/or site maintenance.

Share