By Deborah Aronson – Financial services is a people business—advisors spend years cultivating relationships, earning their clients’ trust and building their businesses. There’s a highly human element involved and many entrepreneurs are personally intertwined with their businesses. That said, thoughtful business owners recognize that there’s more at stake than themselves as they need to ensure that their clients and staff will be well taken care of, if and when the time comes that they can no longer serve as CEO.
By Howard Diamond – In today’s M&A rich environment, every advisory firm and financial advisor wants to get in on the action. Unfortunately, though, most would-be buyers and sellers come up empty. Why? Because of unreasonable expectations.
By Louis Diamond – We often hear principals of independent firms speak of their desire to increase assets under management, and how they feel that doing so will help ensure their relevancy and solidify their position in the marketplace. While this singular notion may have been a focus in years past, increased competition has caused a shift in goals for many quality firms, a shift towards increasing overall enterprise value by paying attention to the things that most impact it (as discussed in my last post).
By Mindy Diamond – What does the principal of a successful RIA do when he is likely 5 years away from partial or complete retirement and the appropriate successor for his/her business has not yet been identified?
Howard Diamond Quoted – By Chris Latham, Financial Advisor IQ – Advisors looking to grow business through M&A must look beyond financials at talent retention and cultural fit, say experts who attended Pershing’s regional symposium Wednesday in New York.
Reuters-ON THE MOVE – On Monday, Lebenthal Asset Management announced it acquired Aurora Investment Counsel, an Atlanta-based equity manager run by independent adviser David Yucius which oversees $250 million in client assets for foundations, endowments and corporations.ore…
Mindy Diamond Quoted- By Megan Leonhardt, WealthManagement.com – The RIA M&A market is poised for growth, but not gaudy growth. While the RIA mergers and acquisitions market is poised for growth, the number and size of the deals are likely to make a slow (but steady) climb back to pre-recession rates; few expect a fury of dealmaking.
