Acquisition offers a host of strategic benefits.
June 30, 2025 – New York, NY – StoneX Group Inc. (NASDAQ: SNEX), a leading global financial services firm, announced today a significant step in its ongoing expansion strategy, signing a letter of intent to acquire Intercam Advisors, Inc. and Intercam Securities, Inc. from Intercam Holdings, Inc. This move, detailed in a press release on BusinessWire, underscores StoneX’s commitment to enhancing its wealth management capabilities and solidifying its presence in the rapidly growing Latin American market. The acquisition, subject to regulatory approvals and the execution of definitive agreements, marks another milestone in StoneX’s ambitious growth trajectory, building on its recent financial successes and strategic acquisitions.
A Strategic Leap in Global Wealth Management
The acquisition of Intercam Advisors, Inc. and Intercam Securities, Inc. offers a host of strategic benefits, positioning StoneX as a formidable player in the global wealth management arena, with a particular emphasis on Latin America. Intercam’s U.S.-based wealth management entities cater primarily to high-net-worth individuals from Latin America, providing StoneX with a robust platform to expand its regional footprint. This aligns seamlessly with StoneX’s long-term strategy of growing its wealth management services globally, leveraging its extensive network of over 70 offices across 180 countries.
Jay Carter, Chief Executive Officer of StoneX Wealth Management, emphasized the strategic fit, stating, “This acquisition is a natural extension of our mission to provide clients with unparalleled access to global markets and investment opportunities. Intercam’s established client base and expertise in serving Latin American investors will enhance our ability to deliver tailored wealth management solutions, particularly in a region with significant growth potential.”
Enhancing Client Access and Market Position
Intercam Advisors and Intercam Securities bring a comprehensive suite of services, including portfolio management, financial planning, and a diverse array of investment products such as stocks, bonds, and mutual funds. By integrating these capabilities, StoneX can offer its clients—both retail and institutional—broader access to markets and a more extensive range of investment options. This complements StoneX’s existing strengths in securities, foreign exchange, and derivatives, creating a more holistic service offering.
The acquisition also strengthens StoneX’s competitive edge in the financial services sector. Intercam’s expertise and client relationships enhance StoneX’s ability to serve a diverse clientele, further solidifying its position as a leading global financial services network. With over 54,000 commercial, institutional, and payments clients, and more than 400,000 retail accounts, StoneX is well-positioned to capitalize on the addition of Intercam’s high-net-worth client base, driving revenue growth through increased accounts and assets under management.
Synergies and Operational Efficiency
StoneX’s institutional-grade infrastructure, including its advanced digital platforms for clearing, execution, and custody, is expected to integrate seamlessly with Intercam’s operations. This integration promises to improve efficiency and reduce costs, creating synergies that enhance StoneX’s overall service delivery. The acquisition builds on StoneX’s successful history of integrating prior acquisitions, such as GAIN Capital, which expanded its retail client offerings, and G.X. Clarke and Sterne Agee, which bolstered its institutional capabilities. These synergies are likely to streamline client servicing and leverage StoneX’s technological prowess to deliver superior investment solutions.
This financial analysis highlights StoneX’s strong performance following its recent acquisition of R.J. O’Brien (RJO), which added over 75,000 accounts and approximately 300 introducing brokers to its network. This deal, expected to close in the second half of 2025, has already positioned StoneX as a market leader in global derivatives. The Intercam acquisition complements this growth, further diversifying StoneX’s revenue streams and client base, particularly in the wealth management sector.
Capitalizing on Latin America’s Growth Potential
Latin America represents a dynamic and expanding market for wealth management services, driven by a growing population of high-net-worth individuals and increasing demand for sophisticated investment solutions. Intercam’s established presence in this region provides StoneX with a strategic entry point, enabling it to tap into this lucrative market. By combining Intercam’s regional expertise with StoneX’s global resources, the company is well-positioned to meet the evolving needs of Latin American investors, offering tailored solutions that address their unique financial goals.
The acquisition also aligns with broader market trends, as financial institutions increasingly seek to expand their presence in emerging markets. Latin America’s economic growth, coupled with rising wealth accumulation, makes it an attractive destination for firms like StoneX. The addition of Intercam’s client base is expected to drive significant revenue growth, as StoneX leverages its advanced platforms to attract and retain high-net-worth clients in the region.
A Track Record of Strategic Growth
StoneX’s acquisition of Intercam Advisors and Intercam Securities is the latest in a series of strategic moves designed to broaden its service offerings and geographic reach. Over the years, StoneX has pursued a deliberate acquisition strategy, integrating firms such as G.X. Clarke, Sterne Agee, and GAIN Capital to enhance its capabilities across various financial sectors. The recent acquisition of The Benchmark Company in March 2025 further strengthened StoneX’s equity research and investment banking offerings, demonstrating its commitment to building a comprehensive financial services platform.
The RJO acquisition, as noted in Cognac’s analysis, has already delivered significant value, with RJO generating approximately $766 million in revenue and $170 million in EBITDA in 2024. This deal, combined with StoneX’s robust Q2 2025 financial results—record operating revenues of $956 million, a 35% increase in net income, and a 29% rise in diluted earnings per share—underscores the company’s ability to execute transformative acquisitions while maintaining strong financial performance.
Market Confidence and Regulatory Considerations
While the financial terms of the Intercam acquisition were not disclosed, the deal’s announcement has generated positive sentiment among investors. Posts on X reflect optimism about StoneX’s growth trajectory, with users highlighting the acquisition’s potential to enhance the company’s market position and revenue streams. This market confidence is further supported by StoneX’s strong stock performance, with shares gaining 82.81% over the past 52 weeks and closing at $91.38 per share on June 27, 2025, as reported by Yahoo Finance.
The acquisition remains subject to regulatory approvals and the negotiation of definitive agreements, indicating StoneX’s cautious approach to ensuring compliance and strategic alignment. This deliberate process is consistent with StoneX’s track record of successfully navigating regulatory hurdles in previous acquisitions, ensuring a smooth integration and long-term value creation.
Looking Ahead
The acquisition of Intercam Advisors, Inc. and Intercam Securities, Inc. positions StoneX Group Inc. for sustained growth and competitiveness in the global wealth management market. By expanding its presence in Latin America, enhancing client access to diverse investment opportunities, and leveraging operational synergies, StoneX is well-equipped to capitalize on the region’s growth potential. The deal aligns with StoneX’s broader growth objectives, reinforcing its reputation as a trusted partner for clients seeking to navigate the complexities of global markets.
As StoneX continues to execute its strategic vision, the Intercam acquisition serves as a testament to its ability to identify and integrate high-value opportunities. With a strong financial foundation, a global network, and a commitment to innovation, StoneX is poised to deliver exceptional value to its clients and shareholders alike, solidifying its position as a leader in the financial services industry.
Sources: BusinessWire (https://www.businesswire.com/news/home/20250630516315/en/), Cognac.com (https://cognac.com/buying-opportunity-stonex-group-inc-snex-is-poised-for-massive-growth-post-rjo-merger/), Yahoo Finance, Investing.com