M&A for registered investment advisers slowing

Firms with less than $500 million in assets under management have been most affected, said David DeVoe, senior director of mergers and acquisitions for Schwab Institutional in San Francisco.
MAR 20, 2008
Current stock market conditions are beginning to exert “downward pressure” on the number of mergers and acquisitions for registered investment advisers, according to David DeVoe, senior director of mergers and acquisitions for Schwab Institutional in San Francisco. “We’ve seen a slowdown [in the number of transactions] occurring already,” Mr. De Voe said while making a presentation to advisers this morning in New York at the Harvard Club. Firms with less than $500 million in assets under management have been most affected, he added. Fewer M&A deals will be done this year than the 80 that were completed in 2007, Mr. DeVoe estimated. In addition, national banks are curtailing plans to buy RIA firms to focus on their subprime mortgage exposure, Mr. DeVoe said.

Latest News

Advisor moves: LPL nabs Cetera teams in California, Texas
Advisor moves: LPL nabs Cetera teams in California, Texas

Meanwhile in Florida, Raymond James welcomed a multigenerational advisor group from Stifel, while Merrill reeled in Morgan Stanley advisors in the Chicago North and Nashville markets.

UBS sees 2.2% decline in advisor headcount during the past 12 months
UBS sees 2.2% decline in advisor headcount during the past 12 months

But management remains focused on UBS advisors’ ability to reel in new assets.

VanEck partners with Allocate to expand private markets access
VanEck partners with Allocate to expand private markets access

VanEck is leaning on Allocate's operating platform to bring a private markets offering to financial advisors in weeks, not months.

Carson Group welcomes $1.76B Wells Fargo team in New Hampshire expansion
Carson Group welcomes $1.76B Wells Fargo team in New Hampshire expansion

The Omaha-based RIA's second Hanover office deepens its US expansion as industry dealmaking hits a record clip in 2026.

CAIS, Arch raise fresh capital as advisors lean into private markets
CAIS, Arch raise fresh capital as advisors lean into private markets

The two alternative-investment platforms' new financing – coming from Blue Owl, Carlyle, Franklin Templeton and other big-name backers – signals deepening advisor demand for private-market access.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income