Wealth management M&A momentum is accelerating at the end of 2023, as the macroeconomic headwinds that threw dealmaking off its previous record-breaking pace recede into calmer air.
For an overview of industry M&A trends on the cusp of the new year, Financial Planning gathered the latest news involving firms like Osaic, Focus Financial Partners, Cetera Financial Group and Creative Planning and spoke with: Katie Bruner, the president of the holding company that owns SkyView Partners, an investment bank that provides advice and capital for registered investment advisory firms undertaking successions, acquisitions and refinancing; and Brent Brodeski, founder and CEO of Rockford, Illinois-based Savant Wealth Management, the No. 7 firm on FP’s RIA Leaders ranking of the largest fee-only RIAs in the country with more than $17 billion in advisory assets. The seven updates and tips for financial advisors are below.
RIAs seeking financing should “prepare early and know your creditworthiness,” Bruner said in an interview.
“A lot of potential borrowers come to us way too late in the game to secure financing successfully,” she said. “Knowing how much you can qualify for is critical as well.”
To see the latest wealth management M&A tips and news updates closing out 2023, scroll down the slideshow. For FP’s list of 24 people who will shape the industry in 2024, click here. To get a roundup of FP’s biggests rankings and analysis of the year, follow this link.