The fourth quarter of 2020 saw a record 69 mergers and acquisitions of registered investment advisory firms, according to Echelon Partners.
The record RIA dealmaking in the fourth quarter resulted in transactions posting an all-time high in 2020 for the eighth consecutive year — 205 deals occurred through Dec. 22, up from 203 in 2019.
“This is an impressive rebound, given the 162 total deals forecasted for 2020 at the end of the second quarter, which was the slowest period for RIA M&A in roughly four years,” said Mark Bruno, a managing director at the firm.
The firm’s RIA M&A Deal Report for the fourth quarter also found that average assets under management per deal increased 23.7% in 2020 from 2019.
The size of firms that were acquired in 2020 also hit a record high of $1.8 billion.
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"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Elsewhere, Sanctuary Wealth recently attracted a $225 million team from Edward Jones in Colorado.
The giant hybrid RIA is elevating its appeal to advisors with a curated suite of alternative investment models, offering exposure to private equity, private credit, and real estate.
The $40 billion RIA firm's latest West Coast deal brings a veteran with over 25 years of experience to its legacy division for succession-focused advisors.
Invictus fund managers allegedly kept $10 million in plan assets after removal, setting off a legal fight that raises red flags for wealth firms.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
