Investments
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Oaks-based SEI Investment rolls out blockchain for its Wall Street clients
A faster way for investors to track documents, account numbers, transactions without the headaches of producing driver’s licenses, passports, some sort of identification that need to be faxed, mailed or scanned? Yes, it’s possible courtesy of a blockchain, and SEI Investments based in Oaks is jumping on board and offering clients such software. First, what…
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3BM1 acquires Garces Restaurant Group for $8M – deal includes Lafayette Hill hotel and conference center
Chef Jose Garces’ eponymous Garces Restaurant Group has officially been acquired by Louisiana-based hospitality company Ballard Brands, and it’s now on the search for a new Philadelphia headquarters as more restaurants are set to close. Ballard Brands and investor David Maser, in a partnership called 3BM1, will purchase the majority of the Garces Group’s restaurants and…
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BrightView Holding in Plymouth Meeting announces launch of its initial public offering
BrightView Holdings, Inc. (“BrightView”) today announced the launch of its initial public offering of 21,300,000 shares of its common stock. The initial public offering price is expected to be between $22 and $25 per share. BrightView expects to grant the underwriters a 30-day option to purchase up to an additional 3,195,000 shares of its common…
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SeventySix Capital to Host Conference on Future of Sports Tech, Sports Betting on June 26
SeventySix Capital – the Conshohocken-based venture capital firm led by Wayne Kimmel, Jon Powell, and former Phillies All-Star Ryan Howard – has announced a half-day conference, “The Future of Sports Tech and Sports Betting Conference,” to be held on Tuesday, June 26 from 8:30-11:30 AM at The Prince Theater in Philadelphia. Speakers will discuss the…
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Investor addresses crowd-funding of craft beweries
Since craft breweries benefit from numerous people investing in them — patrons who enjoy drinking in a certain establishment will tell their friends about it — there is good reason for crowdfunding these businesses, says Ari Goldberg, founder of investment firm RNMKR. Reporter Kenneth Hilario spoke with Goldberg in an interview at bizjournals.com. [uam_ad id=”54865″] “Crowdfunding can…
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Nonprofit to host investment seminar in Willow Grove
BetterInvesting’s “Spring Your Investments Forward” will take place 9 a.m. -4 p.m. Saturday, April 28, at the Giant Superstore, 315 York Road in Willow Grove. BetterInvesting.org is a national nonprofit run by its members to educate themselves on long-term investing, writes Erin Arvedlund at philly.com. [uam_ad id=”54865″] Speakers will include Jenna McCleary, investment analyst with Vanguard…
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Norristown included among new tax break nominees
According to the Pennsylvania Department of Community and Economic Development, tracts of Norristown may be in for new tax breaks under a federal program designed to promote development in rural and low-income urban communities nationwide. Gov. Wolf included the census tracts covering those areas in his list of nominees Friday to become so-called Qualified Opportunity Zones, which…
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The Hill School to host conference for investors in Pottstown region
Potential real estate and business investors will have the opportunity to take a close look at the potential in Pottstown when The Hill School hosts the second Pottstown Investors’ Conference on Friday, April 20. The event will be held in the school’s Center for the Arts, 760 Beech St. starting at 8 a.m. There is…
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Moove In Self Storage acquires two Lower Pottsgrove properties
Moove In Self Storage has acquired two properties in Lower Pottsgove, as well as a third in Douglassville. The York-based company has plans to convert or restore the former TriCounty Chrysler dealership, 2148 East High Street, B&S Self Storage, 175 S. Pleasantview Road, both in Lower Pottgrove; and 604 Benjamin Franklin Highway, in Douglassville, writes…
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Philadelphia Eagles team members launch TopTier wealth management
A trio of Eagles want to help you build your own nest egg. Eagles special teams captain Chris Maragos has no plans to retire any time soon, but when he does, he’ll be joining the finance industry with teammate Jordan Hicks and former teammate Trey Burton, who together this month launched TopTier Wealth Management, writes Erin…
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Golf pro Brian Quinn and 1912 Club LLC buy Plymouth Country Club
A lot happened in 1912 — Girls Scouts of America was founded, and Arizona became the 48th state in the union, and the Titanic capture the headlines when it struck and ice berg and sank off the coast of Canada. But, closer to home, 1912 was also the year the doors of Plymouth Country Club…
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Philadelphia area financial experts agree the market correction was expected
As the Dow ended down 1,175 points, the worst in more than six years, some people grew a little worried and stressed that their stocks were taking a hit. But Wall Street, as a whole, remained calm. Over the last two days, stocks have recovered some of their recent losses but remain beneath the record…
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Prediction: Amazon will buy Target
Amazon.com Inc.’s shakeup of the retail landscape may not be over, according to one well-known technology analyst. The Internet giant will acquire Target Corp., Loup Venture co-founder Gene Munster wrote in a report highlighting eight predictions for the technology industry in 2018. Amazon made waves in retailing last year with its $13.7 billion purchase of…
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Vanguard Group breaks ground at new Malvern location
The Vanguard Group broke ground Monday on an office building situated on the 87-acre Malvern plot acquired five years ago from Pfizer. The 240,000-square-foot, four-story building will accommodate up to 1,600 employees, which Vanguard calls crew, and will offer 300 collaborative working spaces. It will be constructed next to two existing Vanguard buildings on the same plot and…
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King of Prussia- based MedRisk now in the hands of Carlyle Group
Carlyle Group, whose investments range from oil refineries to nursing homes, says it has agreed to buy out Boston-based health-care investor TA Associates as majority owner of MedRisk, a King of Prussia-based maker of workers’ compensation software. MedRisk founder Shelley Boyce, chief executive Mike Ryan, and other managers will stay in place and continue to…
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Univest Corporation of Pennsylvania names Timothy Chubb Chief Investment Officer
Univest Corporation of Pennsylvania (Nasdaq: UVSP), parent company of Univest Bank and Trust Co. and its insurance, investment and equipment finance subsidiaries, recently announced that Timothy Chubb was appointed as the Chief Investment Officer (CIO) of Univest Wealth Management. Chubb will oversee the investment process across all lines of business within Univest Wealth Management, while…
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Top Vanguard Group economist warns investors of higher risks, lower returns
Low interest rates, inflation and volatility have led to an elongated period of slow but steady economic growth in the post-recession era. Though the modest incline may be in jeopardy as Vanguard Group offered its most guarded outlook on the economy in a decade, forecasting higher risks and lower returns for investors, writes Jeff Blumenthal for the…
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Conshohocken-based eLocal completes $25M capital infusion
Conshohocken based eLocal, a leading provider of digital performance marketing and new customer acquisition for local, regional and national service businesses, today announced it has raised $25M in capital from LLR Partners. The investment will help support numerous growth initiatives, including expanding sales, marketing and technology efforts as well as potential acquisitions that complement eLocal’s existing…
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