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.
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.
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Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
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