FP Transitions sees solid M&A activity in second half
The volume of RIA transactions have held up during the pandemic
Noting that 2020 has been a strong year for deals involving registered investment advisory firms, FP Transitions projects it will handle 22 transactions totaling $35 million in the third quarter and 16 transactions with volume of $30 million in the fourth quarter.
“If our projections are correct, 2020 could outperform 2019,” said CEO Brad Bueermann.
[More: Despite COVID, RIA deals headed for another record year]
The firm said it closed the second quarter with roughly $43 million in total deal volume, representing an aggregate transfer of $1.73 billion in assets under management.
“That exceeded our expectations by almost 18%,” Bueermann said.
[More: As M&A activity ramps back up, RIAs need to bone up on the details]
Duo managing $473 million at Morgan Stanley joins Janney
Scott Phelan, Kevin Myers and an assistant switch firms in Atlanta.
Sammons Financial acquires $3 billion Ohio RIA
Dayton-based Beacon Capital Management also runs a turnkey asset management program.
Mercer acquires $215 million Iowa RIA
Ten-year-old Marrs Wealth Management is based in Ames.
Regulators must address savers’ cognitive decline
Today, unfortunately, cases of cognitive decline are prevalent, and the informal and below-the-radar approaches that addressed the issue in the past are inadequate to meet the current challenge.
Allison Herren Lee named acting SEC chair
Biden has nominated Gary Gensler to serve as SEC chairman, but that nomination must be approved by the Senate. Lee has served as an SEC commissioner since 2019.
