Foreside Financial Group LLC, which provides regulatory and compliance service offerings to broker-dealers and investment advisors, has acquired Compliance Advisory Services, a regional financial institution consulting firm based near Altanta. Terms of the acquisition were not disclosed.
“This acquisition is a fundamental step in a series of rollups that will keep us at the forefront of the regulatory consulting landscape,” said David Whitaker, president of Foreside, in a statement. “It gives us the opportunity to expand our wide range of partnership offerings to a diverse range of clients.”
Foreside’s purchase of Compliance Advisory Services is its second acquisition since private equity firm Lovell Minnick Partners acquired a majority interest in February 2017 and its second acquisition this year. In February the Portland, Maine-based firm, which has offices in seven other U.S. cities, announced it was acquiring NCS Regulatory Compliance, which provides outsourced compliance and regulatory solutions for RIAs and BDs.