The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Industry observers expect a small wave of follow-on deals from competitors. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years.
The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Compliance staff inside the acquirer have been preparing for the integration since early March. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin.
The detail
Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin. It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years. Industry observers expect a small wave of follow-on deals from competitors. Insiders say the firm has been quietly building out its alternatives platform since last summer.
“Indianapolis is the second-cheapest professional labor market in the country relative to its credentialed talent pool.” Wealthspire managing director
The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Insiders say the firm has been quietly building out its alternatives platform since last summer. It is the kind of deal that says less about price than about positioning for the next cycle.
What it means for advisors
Compliance staff inside the acquirer have been preparing for the integration since early March. It is the kind of deal that says less about price than about positioning for the next cycle. The combined entity is expected to manage just over four billion dollars when the transaction closes. The transition team has been on site since Tuesday, walking through technology integration with the home-office staff.
- It is the kind of deal that says less about price than about positioning for the next cycle. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter.
- The transition team has been on site since Tuesday, walking through technology integration with the home-office staff. Compensation for the senior partners is rumored to be tied to a five-year retention schedule.
- Both sides described the transaction as transformational, but neither would discuss financial terms on the record. The combined entity is expected to manage just over four billion dollars when the transaction closes.
It is the second strategic acquisition the buyer has closed this quarter and its largest by AUM. Insiders say the firm has been quietly building out its alternatives platform since last summer. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence.
