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Affiliated Financial Services

Financial solution for the Affiliated Hospital of Jining Medical College, China

Within the Chinese market Siemens is almost the only multinational company that can provide financial services and technology as one complete ...

Merit Financial, Botsford And Financial Development Merge, Create Super OSJ

Two LPL-affiliated firms with client assets totaling $2.6 billion have been acquired by Merit Financial Group to form a super-OSJ, the firms announced.

The business combination continues the trend among big offices of independent B-Ds to pool their resources and try to scale their businesses as technology and regulatory costs keep rising.

Merit Financial Group, an independent registered investment advisory firm located in suburban Atlanta, Ga. confirmed that the two firms,  Botsford Financial Group of Dallas  and Financial Development Systems of Atlanta, view the formation of a super OSJ as part of the next phase of growth to expand its national capabilities.

The move will give Merit a total of 60 employees and $2.6 billion in total client assets with about $1.3 billion is in regulatory assets under management and $1.28 billion in brokerage assets serviced. The acquisition will make Merit the fifth-largest firm in the LPL network based on assets, a company source said.

Ofo Keeps Pedals Moving With New Funding

Bike-sharing leader Ofo Inc. has secured $866 million in its latest fundraising round.

The new funding arrived at a time when Ofo is dealing with investor infighting and the fallout of a merger with archrival Mobike that never materialized.

The funding round, using a combination of debt and equity, was led by Alibaba Group Holding Ltd. , with participation from Haofeng Group, Tianhe Capital, Ant Financial and Junli Capital, the company said in statement on Tuesday.

The move came after Ofo, which reportedly has been under financial pressure since mid-2017, began to seek funding from Alibaba and its affiliated financial arm, Ant Financial Services Group , in November.

But that effort has been shelved due to an internal conflict between the management team of Ofo and its top investor, Didi Chuxing, China’s leading car-hailing company, Caixin has learned. Sources said Didi has sought to use its veto power to block new investors from entering the company.

Has anyone had a phone call from a group called Affiliated Financial Services?

They claim to be able to reduce my interest rate on my credit card by a one time payment of $995. It sounds like fraud to me, but I need a little bit of guidance. Help?