Corporate Valuation, Investment Management

February 12, 2018

What RIA Owners Need to Know About the New Tax Law

For this week’s post, we’re offering the slides and recording from our recent webinar on the tax bill’s impact on the investment management community.  On balance, we believe most RIAs are better off as a consequence of the legislation, but there are nuances to the “win.”  Specifically, the webinar covers the following observations on the recent bill:

  • U.S. equities have, overall, benefited from the tax bill

  • Higher valuations have driven ongoing revenues higher at investment management firms

  • Many RIA margins will expand as a consequence of improved economics

  • Investment management firm valuations will grow in many cases because of stronger cash flow

  • RIAs structured as tax pass-through entities (S corps, LLCs, Partnerships) may want to consider reorganizing as C corporations

So feel free to tune in or scroll through if any of these topics are pertinent to you or your firm. Download Slides

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October 2026 | When a Large Ownership Block Doesn’t Mean Control
Value Matters® October 2026

When a Large Ownership Block Doesn’t Mean Control | Valuation Lessons from Grieve v. Commissioner

A large ownership interest does not necessarily convey control, a distinction with important implications for gift and estate tax valuations. In Grieve v. Commissioner, T.C. Memo. 2020-28, the U.S. Tax Court accepted discounts for lack of control and lack of marketability on ownership interests representing 99.8% of the economic interests in two family-owned LLCs.
Value Matters® Newsletter
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Thomas C. Insalaco to Speak at Tampa Bay Estate Planning Council
Thomas C. Insalaco to Speak at Tampa Bay Estate Planning Council
Thomas C. Insalaco, CFA, ASA, Senior Vice President at Mercer Capital, will speak at the Tampa Bay Estate Planning Council on Wednesday, October 21, 2026, at the Chester H. Ferguson Law Center in Tampa, Florida.His presentation, “Navigating Business Valuations: What Estate Planners Need to Know,” will examine common estate planning valuation issues that have recently received IRS scrutiny and offer practical guidance for avoiding potential problems.The Tampa Bay Estate Planning Council brings together attorneys, fiduciaries, accountants, investment advisors, charitable giving specialists, family office executives, insurance professionals, and valuation experts. The Council promotes collaboration among the disciplines involved in estate planning and provides educational opportunities for its members. As a Council Partner, Mercer Capital is proud to support the organization’s educational programming and commitment to collaborative planning.Tom Insalaco is a Senior Vice President and a member of Mercer Capital’s Gift, Estate, and Income Tax Planning and Compliance practice group. Since 2008, he has provided valuation services across a broad range of industries and matters, including gift and estate tax, business succession and exit planning, and buy-sell agreements.Mercer Capital regularly works with attorneys, fiduciaries, business owners, and other professional advisors on valuation matters involving gift and estate tax planning, business succession, ownership transitions, and buy-sell agreements.For additional information or to register, visit the Tampa Bay Estate Planning Council’s website.
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Alternative Asset Managers Face a Reset in Public Market Valuations
Alternative Asset Managers Face a Reset in Public Market Valuations
Alternative asset managers experienced a significant contraction in public-market valuation multiples through September 2026 despite continued growth in assets under management and revenue. The divergence between operating growth and market performance highlights the importance of profitability, recurring revenue, and firm-specific fundamentals when assessing asset management businesses.
RIA Valuation Insights Blog Investment Management
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