The Wire

February 19, 2020

Succession Planning to Enable Growth

On this episode of State of the Industry, we welcome: 

Each guest offers a unique perspective on the latest succession planning research and why some plans succeed and some plans fail.

Key Takeaways:

  • The latest research about growth opportunities in the advisory sector
  • Why firms are seeking internal or external succession plans
  • What makes a plan succeed or fail
  • How succession plans can help to scale and grow a business
January 2, 2020

Mariner buys LA and NJ firms in tax services push

Mariner Wealth Advisors has entered into binding agreements to acquire the tax practices of G.M. Bremer & Associates in El Segundo, Calif., and David G. Miller & Associates in Chatham, NJ.

Terms of the deals were not disclosed.

The acquisition of G.M. Bremer & Associates gives the $31 billion Overland Park, Kan.-based RIA consolidator a foothold in the Los Angeles market, where it had no office before.

January 1, 2020

Getting Laser Focused With Brandon Kawal

In this episode of The Ultimate Advisor Podcast, we discuss the benefits of being laser focused on your business growth and mission with Brandon Kawal from Advisor Growth Strategies. We talk about the ways to differentiate your business, keep the needle moving, and execute your mandate. Brandon shares a lot of his own experiences and advice on the important aspects of the Financial Advisor business. So, push PLAY and join us as we delve into getting laser focused on your business development in 2020!

December 17, 2019

Cash Out? That’s So 2005

In the early days of independent advisor M&A, 15 or 20 years ago, deals were often pretty simple: The seller got a chunk of the purchase price, and then the balance of the cash as he or she phased into retirement over a few years.

But a recent study from consulting firm Advisor Growth Strategies, “RIA Deal Room,” finds that acquisition agreements increasingly feature terms that focus on shared risk and long-term success. We asked Brandon Kawal, the AGS principal who led the research, to walk us through it.

November 19, 2019

What Should You Expect as an RIA Buyer or Seller?

RIA M&A has been a well-publicized topic in the industry.  There was a record level of RIA M&A in 2018, and so far in 2019 there are no signs that deal pace is slowing down.  Against this backdrop, a new study conducted by Advisor Growth Strategies (AGS) and sponsored by BlackRock sheds light on the realities facing RIA buyers and sellers.  Based on transaction information for over 50 RIA deals, the study examines the relationship between deal price and deal terms.  The full study is available here.

The study categorizes RIA deals based on purpose (short-term or long-term), size (small target or large target), and payment structure (certain or uncertain).  The synthesis of these factors impacts the transaction multiple, as shown in the chart from the study below.

November 14, 2019

Access to capital is table stakes but more is coming, RIA giants say

The heads of two of the largest companies in the RIA industry are arguing that access to capital has become table stakes as the industry matures and as buyers and sellers alike wisen up to other factors involved in making good deals.

That's not to say anyone's turning off the money faucet anytime soon.

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