December 2, 2021
Wendy Leung Quoted
By Judy Ward
The rapid pace of advisory business merger and acquisition (M&A) deals will continue in 2022, experts say.
“The pressures of COVID-19, and the potential change in the capital-gains tax rate, have really driven the outsized amount of activity we’ve seen this year,” says Wendy Leung, senior consultant at Diamond Consultants, a recruiting and business consulting firm for financial advisers, located in Morristown, New Jersey. “At the same time, we’ve known for a number of years that there is an aging adviser population in need of a succession plan, and that is still a factor. There is also a ton of capital coming into the advisory M&A space: We see more private equity [PE] firms now interested in making acquisitions, for example.”
Leung says 2021 may end up clocking a peak in the number of deals, “but there’s still a ton of interest” heading into the new year.