July 30, 2019
Louis Diamond Quoted
By Garrett Keyes
The market for RIA M&A is more active than ever, pundits say.
In the second quarter of this year, more transactions were executed than in any quarter before, a DeVoe and Company study shows. But the number of deals isn’t the only record-breaking statistic. Valuations in RIA mergers are the highest they have ever been and have reached levels DeVoe founder David DeVoe has “not seen during the 16 years [he has] focused on RIA M&A,” the study reads.
But it is also an issue of supply and demand, says Louis Diamond, executive vice president of Diamond Consultants, a firm which regularly advises on RIA M&A transactions.
There is a “massive oversupply” of capitalized and legitimate buyers across the RIA industry, Diamond says. And that’s where supply and demand factors in.