|Rachel F. Elson|
The value of RIA mergers and acquisitions activity for 2012 looks set to top 2011 totals, according to a new report.
The third quarter of 2012 brought 10 merger/acquisition deals in the RIA space, accounting for
Although the number of deals is on track to be slightly lower than the average for the preceding five years, the final number will likely be "in the ballpark," says
More interesting, Beatty says, is the big change in the type of buyer in this year's deals. National acquiring firms have accounted for a whopping 54% of all deals this year. That's up from 30% last year and from an average of 37% over the past five years.
RIA firms, meanwhile, dropped to 20% of all buyers for the year to date, down from 44% in 2011.
"We see lots of advisors shifting their model and coming into the RIA space," says Beatty. "These national acquiring firms" — he cites firms like HighTower,
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|Source:||Source Media, Inc.|