Family Wealth Report | May 25, 2022

RIA Investment Banker Sells Out; Insists M&A Market Remains Strong

A firm involved in a significant wealth sector M&A deal talks about its move and about the wider mergers and acquisitions environment for a sector that has seen a lot of transactions in recent years.


RIABiz | May 12, 2022

As Focus Financial shares languish, Rudy Adolf plans $200 million buyback and rebuffs questions he’s overpaying for RIAs–because he avoids ‘drunken sailor transactions’

The New York City rollup buys at private prices then sells at public valuations, but now the CEO’s buying at public share prices in some ‘privately negotiated transactions’ hoping for a bounce


RIABiz | April 8, 2022

CI Financial’s IPO could make the RIA M&A force next to unstoppable if it ‘pops’, but industry insiders see Focus Financial’s stuck stock price as a ‘tremendous headwind’

The Toronto firm already laps the RIA M&A field in deal flow and buzz but an IPO is only worth it if investors cooperate by seeing a much higher value separated from the old cash cow in Canada


RIABiz | February 28, 2022

Toronto-Dominion Bank’s bid to reestablish the TD brand for U.S. wealth management takes a $13-billion step forward

The Toronto owner of Cherry Hill, N.J.-based TD Bank is adding First Horizon and its 412 branches to its growing U.S. footprint — sweeping East to West


Family Wealth Report | February 28, 2022

Why Partners Should Review Their Buy-Sell Agreements – Now

It is vital for advisory firms to review those agreements before partners face a crisis or an impending sale to make sure that partners can transition ownership smoothly, ensure liquidity and avoid expensive litigation.


Financial Planning | February 21, 2022

6 major trends for financial advisors in 2022: Cerulli study

Where you should work. How you should serve HNW clients. Cerulli’s latest report tells you six trends that are top of mind in the industry.


RIA Biz | January 27, 2022

Dynasty Financial takes next logical step, using Wall Street powers and RIAs to beat Wall Street with an IPO, but timing surprises one expert

CEO Shirl Penney could consolidate power by cashing out elder statesmen Harvey Golub and Todd Thomson, opening the door to his own vision for growth.


Barron’s | December 10, 2021

Will Focus Financial’s Big Bet Pay Off?

The big RIA buyer offers rosy growth projections, but fierce competition—and differing business models—may be a hurdle.


Mindy Diamond on Independence Podcast | September 23, 2021

The Real Impact of the Crisis on Valuations and the Independent Space as a Whole

M&A activity in the RIA space enjoyed a continual rise over the last several years, fueled largely by sellers looking to solve for scale, succession and monetary goals, and a cadre of well-funded buyers seeking to capitalize on potential opportunities.


Financial Planning | August 17, 2021

Beacon Pointe sets sights on becoming $200 billion mega firm

The California-based firm’s latest $1 billion RIA grab is just the start, its leaders say.


Financial Planning | July 30, 2021

Ric Edelman’s excellent crypto adventure

His embrace of volatile cryptocurrencies for mainstream investors is a major shift from the cautious world of fiduciary advice that’s synonymous with his namesake firm.


RIA Biz | July 29, 2021

Robinhood got its $32-billion IPO after it parlayed a Wall Street rebel image into a way for the Wall Street elite to cash in

The Menlo Park, Calif.-based phenom’s founders become billionaires but Goldman Sachs and J.P. Morgan get their cut of the IPO, and the bulk of the trade spreads go to the Street’s giant trading houses like Citadel and others.


Family Wealth Report | June 23, 2021

RIA Mergers, Acquisitions At Mid-Year- State Of The Market  

There’s no reason, wealth industry figures say, why there won’t be more busy M&A activity affecting the RIA space. So far this year there has been a burst in transactions, then a drop, followed by a recovery. What’s driving deals, and where is this sector headed?


Financial Planning | June 21, 2021

How Ric Edelman stepped away from his namesake advisory firm

Can Edelman Financial Engines keep its star quality under private equity owners — with its founder gone?


Advisorpedia | March 17, 2021

How a COO Can Elevate Your RIA: No Matter How Unique Your Business Needs Are

For this special edition of The COO Roundtable, Matt recorded live from Mercer Capital’s inaugural RIA Practice Management Insight’s conference. This virtual conference “focused on back of the house (operational) issues that are as vital to success as they are easy to ignore.”


Bank Director | February 8, 2021

Will We Ever See Three Times Book Again?

Mergers and acquisitions are examined as part of Bank Director’s Inspired By Acquire or Be Acquired.


RIA Biz | November 12, 2020

Focus Financial buys B2B outsourcer — a business model shift that stretches its M&A dollar but also introduces identity issues

The New York rollup bought $9 billion of AUM, but CornerStone Partners is still an OCIO for non-profit institutions with a set of challenges unique to its niche.


Family Wealth Report | October 5, 2020

Will Equity Answer Wealth Management’s “Compensation Conundrum?”

Compensation, recruiting, retention, and equity are the main factors that cause wealth management firms’ owners sleepless nights. Where does equity fit into the picture and how can organizations understand its role better in taking businesses in the right direction?


RIA Biz | October 1, 2020

Despite dissenting Fed vote, Charles Schwab Corp. cleared to close TD merger Tuesday, and ‘Schwabitrade’ looks less fearsome than anticipated

Fed Board member Lael Brainard voted ‘no’ on creating a new category killer but the San Francisco discount broker and RIA custodian got what it wanted; Schwab, TD Ameritrade shares rise on the news.


Pensions & Investments | August 10, 2020

Manager Assets Roar Back but Revenue Restrained

Publicly traded money managers saw their assets under management rebound in the second quarter, even as revenues were slower to recuperate from COVID-19-related drawdowns felt in the first quarter.


Michael Kitces’ Financial Advisor Success Podcast | June 2, 2020

#FASuccess Ep 179: Investment Banking For Wealth Management And The Evolution Of Advisor Enterprise Value, with Elizabeth Nesvold

In this episode, Michael Kitces talks in-depth with Elizabeth Nesvold about how an investment banker looks at the valuation of an advisory firm.


PFI Advisors | April 21, 2020

Silver Linings: Using Crisis to Improve Your RIA’s Health

Bad companies are destroyed by crisis. Good companies survive them. Great companies are improved by them. Matt Sonnen of PFI Advisors discusses the importance of using this time as a wake-up call to focus on the health of your business.


RIA Biz | April 18, 2020

Charles Schwab spends an extra $27 million on staff amid Covid-19, $37 million spent to keep three M&A deals chugging ahead

The San Francisco broker paid cash in March to workers amid challenges of the pandemic as trading exploded, retail calls spiked 16%.


RIA Biz | February 21, 2020

Thomas H. Lee Partners reportedly puts Hightower Advisors on the block, but an air of unreality surrounds the timing and premium price following two-year revamp

The Boston firm repeopled, rebranded, remodeled, and then locked down its advisors with $100 million, paving the way for the next owner — if the $2-billion price is right.


FinancialPlanning | February 21, 2020

Can acquisitions continue to boost Focus’ earnings?

The RIA’s revenues blow past $1 billion but, industry observers not fierce competition among rival buyers.


FinancialPlanning | January 29, 2020

Adios United: Goldman renames RIA and unveils new strategy

The Wall Street giant reveals how it plans to capture a bigger share of high-net-worth and mass affluent markets.