If The Mutual Fund Store Is For Sale, Nobody Told Founder Adam Bold Hot

Adam Bold, known to many as a tireless promoter of his 73-branch national franchise across radio and TV, dismissed the notion of a sale by bluntly telling local journalists that "we have not put the company up for sale."

The Mutual Fund Store caters to true mass affluent clients -- usually under $50,000 in investable assets -- and has grown its total AUM from $1.7 billion to $6.4 billion over the last five years.

Further complicating the situation: private equity firm Summit Partners invested in the Mutual Fund Store back in 2006. Any buyout would probably need the minority partner's knowledge if not active blessing.

In theory, Bold could be working to buy out Summit or go public, but neither of these scenarios seems all that likely either.

JPMorgan wouldn't need to get involved in a negotiation between partners.

And while the Mutual Fund Store is huge by RIA standards, if its revenue is anything like the norm for the industry, it squeezes maybe $64 million a year in revenue out of its AUM -- great stuff for a private operator but not exactly ripe for a blockbuster IPO.

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