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DA Davidson & Co merges with Crowell Weedon

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DA Davidson & Co has formally completed its merger with Crowell Weedon & Co, a full-service brokerage and money management firm based in Los Angeles.

 
“We are excited to have the great team of professionals at Crowell Weedon as our new partners,” says Bill Johnstone (pictured), chairman and chief executive of Davidson Companies, the parent company to DA Davidson. “We see many synergies between our companies that include, first and foremost, a mutual belief that our clients’ needs come first. That philosophy informs all that we do and strengthens our ability to work in tandem on behalf of our clients.”
 
The transaction marks DA Davidson’s largest partnership in the 78-year history of the firm. Crowell Weedon clients are expected to gain access to a broader array of financial services and products, while both companies are expected to benefit from added economies of scale created through the combination. The companies share similar histories and business philosophies.
 
“We couldn’t be happier with the welcome from DA Davidson that already has begun,” says Andrew Crowell, president and chief executive of Crowell Weedon. “We are confident that this merger is a win-win situation.”
 
Crowell Weedon initially will operate as a separate broker-dealer until completion of the two companies’ operational integration, expected to occur over the next six months. After that, Crowell Weedon will be a division of DA Davidson and a part of its individual investor group, which provides an array of financial services and investment solutions to individual investors, families, businesses and non-profit organisations. With Crowell Weedon, the individual investor group will have roughly 460 financial consultants.
 
The individual investor group is the largest business unit within DA Davidson, which also offers equity and fixed income capital markets services and products. Additionally, through DA Davidson’s sister companies, clients have access to asset management and trust services.
 

Crowell Weedon’s leadership will integrate into the DA Davidson management structure to ensure continuity for clients, employees and partners. Crowell Weedon’s financial professionals will continue working from their existing Southern California offices, and Andrew Crowell will continue to manage the Crowell Weedon division and will report to Jim Kerr, president of Davidson Companies. 

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