The purpose of this research is to provide readers with a comprehensive understanding of the ongoing consolidation taking place amongst wealth management firms. Glass Steagall fell in 1999 and the financial services industry accelerated its mergers & acquisitions trend, with brokerage firms and independent financial advisors becoming popular acquisition targets. This research forms part of Tiburon's broader coverage of wealth & investment management mergers & acquisitions.
This research begins with a context-setting chapter addressing wealth management firm succession planning.
Historical Phases
This research addresses the key historical phases of wealth management firm mergers & acquisitions, including:
- Early financial advisor aggregators phase
- Strategic buyers phase
- Private equity phase
- High multiples phase
This research then addresses the variables & valuation metrics of wealth management firm mergers & acquisitions, as well as the leading acquisitions and the leading acquirors.
Market Segments
This research defines the distinct market segments of wealth management firm mergers & acquisitions, including:
- Brokerage firms
- Full-service brokerage firms
- Independent broker/dealers
- Discount & online brokerage firms
- Independent advisors
- Fee-based financial advisors (RIAs)
- Retirement plan advisors
- Independent reps
Future Predictions
And this research makes several future predictions for wealth management firm mergers & acquisitions, including:
- Continued formalization of the wealth management firm sale process
- Substantial growth in wealth management firm mergers & acquisitions
- Fastest growth in independent financial advisor mergers & acquisitions
- Moderate growth in transaction values, with fee-based financial advisors (RIAs) earning the highest multiples