The Triangle Business Journal reported today that YSU is following Fonville Morisey’s acquisition by Long and Foster, and being acquired by Prudential.
This is rather big local news, with another local “legacy” firm selling out to a larger company.
York Simpson Underwood going to Prudential is a real surprise to those of us who keep our noses to the grindstone, and only surface for a brokers’ lunch now and then. For a successful family run company, it may be a great time to cash out.
I suppose we will see some more mergers and acquisitions in the brokerage world, considering economic issues with burdening a significant number of large players.