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THE RIA M&ALandscape Is on Fire.

The most recent RIA Deal Room Report, which provides unbiased, data-driven insights into the changing M&A landscape, validates and debunks the forces behind new records in RIA M&A. It also presents an evolved industry landscape from a two-lane road to a more complex highway of options that include investors, platforms and consolidators/integrators.

As the M&A market becomes more sophisticated, it is even more important for RIA owners to consider teaming up with an experienced transaction advisor to help work through the challenges and the opportunities of a proposed M&A transaction.

At AGS, we consult on a variety of M&A transactions, either as a consultant for a business combination, or a trusted transaction advisor to a buyer or seller. We apply our experience and research, interpreting the dynamic M&A market from an internal and an external perspective to execute an ideal transaction.

We work with clients on a range of M&A transaction goals, including:

  • growth and scale to meet increasing demand or enhancing capabilities
  • sustainability and succession planning
  • leverage a more robust platform
  • access talent to shed business management and free time to focus on the client experience
  • realize the value of their firm and their life’s work as a professional.

In all cases, our clients seek a robust valuation and financial outcome, while keeping true to the intended outcome of a proposed transaction.

Whatever your motivation, we work with our clients throughout the process, starting with reimagining what your future business could be. We help ensure our clients are ready to enter the highly competitive M&A market, walking clients through a structured decision process. Once we find the right fit for our clients, we facilitate all facets of negotiations. AGS manages due diligence to validate a deal, and finalizes transaction terms that are a win/win for all parties.

$500M-$10B
Typical AUM range of RIAs we work with
$25M-$300M
In fair market value
$2B+
Cumulative sale value (TEV) of AGS deals

OUR CAPABILITIES

MARKET EDUCATION
FIRM POSITIONING & VALUATION
PARTNER SEARCH
TRANSACTION STRUCTURE & TERMS
DUE DILIGENCE & INTEGRATION
POST-TRANSACTION ORGANIZATIONAL STRUCTURE

PROCESS

We offer 360° view of a deal’s pros and cons to help ensure our clients make an informed M&A decision.

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Define Goals

Determine what works for you, clients, and team

Consolidate firm data in a market-facing financial package and CIM

Go to Market

Short-list potential partners

Present and gauge interest via CIM

Run the Numbers

Request indication of interest

Model offers and complete relative comparison

Narrow the Field

Select best 3–5 candidates for deeper diligence and meetings

Draft final letter of intent

Select ideal partner

Finish Line

Execute confirmatory due diligence and definitive agreements to close transaction

Conduct reverse due diligence including partner’s financial status, counterparty risk and compliance fit

Manage expectations on both sides

CASE STUDIES

Here are representative examples of M&A deals that highlight how we work with our clients to deliver an ideal outcome.

SELL-SIDE
CAPITAL RAISE

CLIENT OVERVIEW

  • $1B AUM RIA in the Northwest
  • Evolved team experiencing tremendous growth and in need of additional platform resources
  • $3B+ RIA hybrid platform evaluating a private equity firm that could provide growth capital and liquidity for partners
  • Founder seeking a partner to derisk and minority owners looking for enhanced equity financing to buy into the firm

CHALLENGES

  • Internal succession viewed as less desirable and all partners had a long runway
  • Culture fit and career upside for the team was critical
  • Owners seeking leverage for non-critical activities such as compliance and HR
  • Unique aspects of firm’s advisor affiliation model
  • Founder wanted to maintain control, with help from a private equity firm committed to helping the firm grow and succeed
  • Firm revenue transitioning from commission to fee-based over time

SUCCESSES

  • AGS team validated goals and opened a partner search
  • AGS curated a group of potential partners that would fit the firm’s needs
  • AGS and the client discovered a transaction with flexibility backed by a strong platform was the right fit
  • Client received a top-tier valuation while accessing best-in-class resources for future growth
  • AGS guided private equity investor on price and terms to satisfy seller’s non-negotiables
  • AGS negotiated a win/win framework for all parties leading to increased advisor retention and the potential for buy side M&A activity
  • Transaction resulted in a more durable firm, with capital for increased growth and new capabilities
THE RIA DEAL ROOM
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