Added on February 2017 in M&A Issues
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Summary: Banks and credit unions are out in force in search of RIAs and independent advisory practices to acquire. The problem is they can't find them.
Added on February 2017 in M&A Issues
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Summary: After a gratifying 25-year career as a financial adviser, I began a search for an ideal buyer of my sole proprietor practice in 2010. Over two-and-a-half years, I interviewed 10 financial advisory firms that had the potential to be candidates until I narrowed it down and found a very reputable firm to take over my clients.
Added on February 2017 in M&A Issues
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Summary: Subacquisitions, the purchase of a smaller RIA by a larger firm that itself had been previously acquired, have nearly quadrupled since 2014 and now comprise 22% of all M&A transactions by established RIAs, according to DeVoe & Co.'s latest industry report.
Added on February 2017 in M&A Issues
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Summary: “Acquiring firms, with over $1 billion in AUM, are looking for really high-quality firms,” says David Canter the executive vice president of Fidelity Clearing & Custody Solutions' practice management and consulting arm. “There’s been an evolution in how these firms are approaching mergers and acquisitions, and they’ve become much selective in the kind of firms they want to buy.”
Added on February 2017 in M&A Issues
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Summary: The latest M&A report from Fidelity Custody & Clearing describes the 104 deals in 2016 as an anomaly, and projects transactions for the current year to be more in line with the 138 deals of 2015.
