Summary: RIAs overtook strategic acquiring firms as the leading buyer of advisory firms in 2013, according to data released Tuesday by Schwab Advisor Services. Mergers and acquisitions are up overall, too, although the amount of assets under management acquired in those deals dropped.
 Clearly RIAs are showing a lot of strength, making the most acquisitions out of any other buying category in 2013. It’s an indication of the increased sophistication of RIAs with mergers and acquisitions. They’re acquiring not just to grow, but to achieve other strategic goals and objectives.”
David DeVoe, managing partner at DeVoe and Co.
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