Added on April 2017 in M&A Issues
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Summary: Acquirers in the wealth management industry these days aren’t looking for sleepy one-person firms but those with specific characteristics.
Added on April 2017 in M&A Issues
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Summary: Many independent advisors will be relying on the greater fool theory to strike a rich deal. Independents know that larger institutions and roll-ups routinely overpay for an advisor’s book of business. The word on the street is that buyers frequently overestimate how much advisors can grow their business.
Added on April 2017 in M&A Issues
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Summary: Mergers and acquisitions are very tricky. Firms spend a great deal of time focusing on the financial deal, but not enough time figuring out “the human element” and how everyone will fit under a new culture. You are clearly caught in this where there wasn’t a defined role, and you are trying to find a place to make a difference.
Added on March 2017 in M&A Issues
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Summary: Over 60% of RIAs who are considering an M&A transaction over the next five years plan to acquire a solo adviser, and 47% would like to take over a smaller firm's client accounts by buying its book of business, according to a survey of RIAs by FA Insight, a division of TD Ameritrade Institutional.
Added on March 2017 in M&A Issues
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Summary: A RIA’s size, the demographics of its clientele as well as its advisor force, and the owner’s ability to negotiate are the three main factors buyers use to value an advice practice, says the Wall Street Journal.
