The private equity firm GTCR has officially closed its acquisition of FMG Suite, a specialist financial services marketing solution and software provider that was previously backed by Aurora Capital Management.
News of the deal first emerged in late July. At the time, Michael Hollander, managing director at GTCR, cited FMG’s “exceptional business” and leadership as key drivers of the deal, noting that he looks forward to working alongside FMG CEO Scott White.
As part of the acquisition, Mark Casady, former chairman and CEO of LPL Financial, is joining FMG as executive chairman. He will work closely with White and other members of the management team to help drive strategy and growth initiatives. These include developing AI-enabled products that cater to the evolving needs of the advisor, deepening FMG’s relationships with enterprise-scale wealth management firms and insurance agencies and evaluating organic and inorganic growth opportunities.
In a statement, Casady said he was “thrilled” to join FMG at such a pivotal time for innovation in wealth management.
“Throughout my career, I’ve been focused on helping financial advisors deliver smarter, more efficient ways to serve their clients and build lasting financial freedom,” Casady said. “This includes witnessing the transformative impact of AI in financial services, which I believe will be key to future growth.”
During his tenure, Casady grew LPL's annual revenue from $1.4 billion to over $4 billion through organic growth and acquisitions, propelling LPL to become the largest U.S. independent broker-dealer serving over 14,000 advisors. He also led the transition of LPL from a sponsor-backed private company to a publicly listed entity in 2010.
“We’ve known Mark for over a decade and are confident that FMG will benefit from his deep understanding of the financial advisor community, unparalleled network in the wealth and insurance industries and strategic guidance,” Hollander said.
Founded in 2011, FMG provides “omnichannel” marketing automation capabilities to wealth advisory and insurance professionals. It currently serves over 50,000 financial professionals, according to the announcement, including some 3,500 property and casualty insurance agencies via its Agency Revolution brand.
Pictured: Mark Casady. Courtesy photo
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