The Wire

May 11, 2021

TD RIAs could face sticker shock in Schwab's referral program

Former participants in TD Ameritrade’s AdvisorDirect RIA referral program may need to pay more for the clients they receive through Charles Schwab’s Schwab Advisor Network.

Schwab has elected to retain its pre-existing tiered basis point fee pricing structure, according to a source familiar with the situation and Schwab presentation materials reviewed by Citywire.

May 10, 2021

Wealth Advisors’ M&A Trend – What’s Driving The Market

A number of forces are driving M&A deals in the US registered investment advisor space and a study examines how certain types of business are gaining an edge.

The median valuation for registered investment advisor M&A transactions rose by 21 per cent in 2020 from a year before as deals increased, figures show, with larger acquirers benefiting from scale and track record. It is unclear, however, if multiples paid for transactions will continue rising at the same pace as over the past five years.

May 10, 2021

Complex Advisor M&A Market Presents Emerging Risks and Opportunities: Advisor Growth Strategy Study

Pandemic-era mergers and acquisitions in the registered independent advisor (RIA) space have splintered the market with growing pressures and more options than ever, according to The 2021 Deal Room reportAdvisor Growth Strategies, one of the industry’s most trusted resources, explored the deal structure of 33 transactions in 2020, representing more than $60 billion in managed assets and about $1 billion in total valuation. With the support of their sponsor BlackRock, Advisor Growth Strategies updates the most in-depth, quantitative study publicly available of why and how RIA deals succeed.

May 10, 2021

The Pandemic’s Permanent Mark on Wealth Management M&A

After the Covid-19 pandemic cooled wealth management merger and acquisition activity last year, deal volume bounced back and reached record levels. But even as the U.S. slowly normalizes, changes to wealth management M&A will remain, a new report says.

May 10, 2021

RIA valuations rose 21% in 2020, study finds

RIA valuations rose 21 percent from 2019 to 2020, driven by sky-high buy-side demand, according to Advisor Growth Strategies’ 2021 Deal Room study.

The annual study, published Monday morning and compiled by the Phoenix RIA consultancy, aims to analyze the M&A environment in the RIA space.

April 26, 2021

Business Strategy: Compensating Financial Advisors And Staff In A Post-Pandemic World

For financial advisors who run their own firm, creating a business strategy means compensating their advisors and staff rarely remain static. As the years pass, new pay practices take hold and others fade away.

Yet despite all the disruption in 2020, many advisors maintained their existing pay structure. They continued to make payroll and avoid layoffs. But as the landscape changed, so did strategies to recruit and retain top employees.

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