Genworth Financial Inc. this morning announced that it has reached an agreement to acquire alternative-investments platform Altegris Advisors LLC for approximately $35 million. The deal also includes some performance-based payments. Altegris, which has approximately $2 billion in client assets and provides clearing services to accounts representing $800 million in institutional assets, is expected to help Genworth provide a broader product offering to independent financial advisers. http://www.investmentnews.com/article/20101019/FREE/101019902 Hum, $35 million ? That´s not much...
?......2% of 2-billion dollars equals 40-million dollars. 35-million can be a decent price if they can retain the assets.