Latest news with #JayJackson
Yahoo
4 days ago
- Business
- Yahoo
Dynasty Takes Minority Stake in Life Settlement Firm Abacus
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. Dynasty Financial Partners has entered into an equity swap agreement with Abacus Global Management, a publicly traded alternative asset originator and manager that specializes in life insurance products. As part of the equity swap, Abacus, which became a Dynasty partner firm in 2023 with the launch of its wealth management division, ABL Wealth, has acquired a minority stake in Dynasty and vice versa. 'Our investment in Abacus illustrates our confidence in their business model, the strength of their balance sheet, and the commitment of [Abacus CEO Jay Jackson] and the team to continue building out their wealth business,' said Dynasty founder and CEO Shirl Penney, in a statement. Dynasty launched its equity swap program about six or seven years ago and has entered into agreements with a significant number of its large clients as a way to align interests between them. The firm does not take any controlling interest in the firms it acquires. The deal with Abacus was structured in the same way as others. Abacus launched its wealth division in 2023 with Dynasty support and a plan to seed that offering by acquiring and rolling up RIAs under the ABL Wealth brand. It will provide those advisors with leads from both the inquiries the company receives and cash payouts from its life settlements business. Last year, Abacus signed an agreement to acquire Carlisle Management Company SCA, a Luxembourg-based alternative asset manager with about $2 billion in assets under management, for $200 million. Dynasty Investment Bank advised Abacus on the deal. That was followed by Abacus's acquisition of FCF Advisors, a New York-based asset manager with about $600 million in assets under management. Both firms have become part of ABL Wealth and will provide investment strategies to advisors who eventually join the platform. Abacus has not made any RIA acquisitions thus far, but Jackson has been vocal about his intention to do so and the firm's commitment to the wealth business. Abacus receives some 10,000 inquiries a month from individuals who may not qualify to sell their policy but have other financial services needs. These leads are, on average, over age 55 and have $1 million of net worth, and serve as a differentiator to the company as it looks to attract RIAs. Abacus went public in July 2023 via a Special Purpose Acquisition Company, merging with East Resources Acquisition Company. It now trades on the NASDAQ under the symbols 'ABL' and 'ABLLW.' The company purchases life insurance policies from consumers for cash. In 2022, Dynasty sold minority stakes in the company to Charles Schwab and private equity firm Abry Partners. In 2024, it announced a minority capital raise from BlackRock, JP Morgan Asset Management and Schwab. Dynasty now serves 57 partner firms across over $105 billion in platform assets. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Abacus Global Management and Dynasty Financial Partners Announce Minority Investment
ORLANDO, Fla., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ('Abacus' or the 'Company') (NASDAQ: ABL), a leader in the alternative asset management space, today announced a minority investment in Dynasty Financial Partners ('Dynasty'), a leading provider of technology-enabled wealth management solutions for independent financial advisors. 'Over the years, we have developed a deep relationship with the team at Dynasty, so we are thrilled to be able to offer them support, as well, through this investment,' said Jay Jackson, Chairman and Chief Executive Officer of Abacus. 'Their backing and expertise empower us to continue building on our suite of services and expanding our national footprint.' Abacus is a member of the network of owners and operators of independent firms leveraging Dynasty's integrated technology, services, robust turnkey asset management program (TAMP), digital lead generation services, capital solutions, and investment bank. Currently, Dynasty has 57 Network Partner firms and over $105 billion in platform assets. Shirl Penney, Founder and Chief Executive Officer of Dynasty, said: 'This alignment and mutual investment is yet another illustration of how the independent wealth management space has truly exploded with growth and opportunity. Jay and the team at Abacus are well-positioned to keep moving forward with their growth plans and we are proud to partner with them to support each other's strategic goals.' About AbacusAbacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide. For more information, please visit Contacts:Investor RelationsRobert F. Phillips – SVP Investor Relations and Corporate Affairs rob@ 290-1198 David Jackson – Managing Director of Investor Relations david@ 299-0716Abacus Global Management Public Relationspress@ About DynastyDynasty is a provider of technology-enabled wealth management solutions and business services for financial advisory firms primarily focused on serving high net worth and ultra-high net worth clients. Dynasty provides access to a comprehensive platform of software and technology tools, business services, and holistic investment management capabilities through an open-architecture platform delivered via a suite of proprietary and third-party technologies. Dynasty's technology, tools, and services provide advisory firms the supported independence to launch their business, scale their operations, and grow their firms — both organically and inorganically — while also allowing them to be more focused on and better equipped to serve their clients. For nearly a decade and a half, Dynasty has championed the benefits of independent wealth management for high net worth and ultra-high net worth clients and has contributed to the movement of assets from traditional brokerage channels to the independent channels of wealth management. A recognized industry leader, Dynasty has differentiated itself by developing competitive strengths, including a deep understanding of and strong relationship with its clients; a comprehensive offering of services and technology-enabled solutions; the ability to leverage its size and breadth to invest; the flexibility and seamlessness enabled by a modular technology solution; an entrepreneurial culture; and an experienced and committed management team. Dynasty is committed to continually growing its business by facilitating existing advisory firm clients' growth, onboarding new clients, increasing clients' use of its broader capabilities, launching additional solutions, and facilitating complementary acquisitions. For more information, please visit To learn more about Dynasty Connect please visit Also visit Dynasty on social media:LinkedIn: @DynastyFP
Yahoo
07-08-2025
- Business
- Yahoo
Abacus Global Management Delivers Strong Q2 Earnings, Upgrades FY Outlook
By Karen Roman Abacus Global Management, Inc. (Nasdaq: ABL) said second quarter total sales increased 93% to $56.2 million compared to $29.1 million the prior year, thanks to higher revenues from Life Solutions and asset-management fees from previous acquisitions. Adjusted net income rose 87% to $21.9 million compared to $11.7 million the year prior, while adjusted diluted earnings per share was $0.22 compared to $0.17, it said. Adjusted EBITDA increased 89% to $31.5 million compared to $16.7 million, with an adjusted EBITDA margin of 56.1% compared to 57.5%, the company stated. Abacus raised its full year outlook and now expects adjusted net income between $74 million and $80 million compared to its prior goal of $70 million to $78 million, it said. 'Our strong performance was driven by robust demand for policyholder liquidity, as well as increased inflows for our new asset management offerings,' said Jay Jackson, Abacus CEO. 'Our differentiated origination-focused business model, serving both liquidity-seeking consumers and yield-seeking investors, enables us to capture true market value in any macro environment.' READ MORE Potbelly Q2 Revenue & EPS Growth Pushes Stock Up 3% Never Miss our Weekly Highlights Contact: Exec Edge Editor@ Click to follow us on LinkedIn Sign in to access your portfolio
Business Insider
07-06-2025
- Business
- Business Insider
Abacus Global authorizes new $20M share repurchase program
Abacus Global (ABL) Management announced that its Board of Directors has authorized a new $20M share repurchase program, effective June 5, 2025 for over a period of up to 18 months, as well as recent Form 4 and other employee share purchases totaling over $2M. 'While it is unfortunate that Abacus Global Management has been subject to a short attack, we believe our artificially depressed share price represents an excellent buying opportunity for the company,' said Jay Jackson, Chief Executive Officer of Abacus Global Management. 'We believe this is validated by our newly authorized share repurchase program, reflecting our Board's continued confidence in our business model and strength of our balance sheet, and also by our employees who have spent over $2 million combined of their own money in recent share purchases. Our returns and valuation are audited, and consistent with a 20-year track record of generating positive revenue. We will not allow this distraction to affect our continued growth and our day-to-day operations.' The company added: 'Abacus is committed to pursuing all available legal remedies against the individuals and entities responsible for orchestrating and disseminating the false and misleading short attack.'
Yahoo
06-06-2025
- Business
- Yahoo
Abacus Global Management Announces Share Repurchase Program; Insider Buying
ORLANDO, Fla., June 06, 2025 (GLOBE NEWSWIRE) -- Abacus Global Management, Inc. ('Abacus' or the 'Company') (NASDAQ: ABL), a leader in the alternative asset management space, today announced that its Board of Directors has authorized a new $20 million share repurchase program, effective June 5, 2025 for over a period of up to 18 months, as well as recent Form 4 and other employee share purchases totaling over $2 million. "While it is unfortunate that Abacus Global Management has been subject to a short attack, we believe our artificially depressed share price represents an excellent buying opportunity for the Company,' said Jay Jackson, Chief Executive Officer of Abacus Global Management. 'We believe this is validated by our newly authorized share repurchase program, reflecting our Board's continued confidence in our business model and strength of our balance sheet, and also by our employees who have spent over $2 million combined of their own money in recent share purchases. Our returns and valuation are audited, and consistent with a 20-year track record of generating positive revenue. We will not allow this distraction to affect our continued growth and our day-to-day operations.' During the pendency of the stock repurchase program, the Company may repurchase shares from time to time through various methods, including in open market transactions, block trades, accelerated share repurchases, privately negotiated transactions, derivative transactions or otherwise, certain of which may be made pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in compliance with applicable state and federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including our assessment of the intrinsic value of the Company's common stock, the market price of the Company's common stock, general market and economic conditions, available liquidity, compliance with the Company's debt and other agreements, applicable legal requirements, the nature of other investment opportunities available to the Company, and other considerations. The Company is not obligated to purchase any shares under the repurchase program, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund the repurchases by using cash on hand and expected free cash flow to be generated in the future. Abacus is committed to pursuing all available legal remedies against the individuals and entities responsible for orchestrating and disseminating the false and misleading short attack. Forward-Looking Statements All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus's financial and operational outlook; Abacus's operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus's ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'estimate,' 'expect,' 'intend,' 'anticipate,' 'goals,' 'prospects,' 'will,' 'would,' 'will continue,' 'will likely result,' and similar expressions (including the negative versions of such words or expressions). While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus's loss reserves are bases on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus's insurance policies; the geographic concentration of Abacus's business; the cyclical nature of Abacus's industry; the impact of regulation on Abacus's business; the effects of competition on Abacus's business; the failure of Abacus's relationships with independent agencies; the failure to meet Abacus's investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus's control environment, including the identification of control deficiencies. These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations. About Abacus Abacus Global Management (NASDAQ: ABL) is a leading financial services company specializing in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services. With a focus on longevity-based assets and personalized financial planning, Abacus leverages proprietary data analytics and decades of industry expertise to deliver innovative solutions that optimize financial outcomes for individuals and institutions worldwide. Contacts: Investor Relations Robert F. Phillips – SVP Investor Relations and Corporate Affairsrob@ 290-1198 David Jackson – Director of IR/Capital Marketsdavid@ 299-0716 Abacus Global Management Public Relations press@
