Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Compensation for the senior partners is rumored to be tied to a five-year retention schedule. 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. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter.
Industry observers expect a small wave of follow-on deals from competitors. Compliance staff inside the acquirer have been preparing for the integration since early March. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Compensation for the senior partners is rumored to be tied to a five-year retention schedule.
The detail
Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition. The transaction values the firm at roughly twelve times trailing EBITDA, according to people familiar with the matter. Compensation for the senior partners is rumored to be tied to a five-year retention schedule. The transition team has been on site since Tuesday, walking through technology integration with the home-office staff.
“Tax should not be a side hustle. It is the second core service.” RIA principal, Greenwich
Both sides described the transaction as transformational, but neither would discuss financial terms on the record. 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. Compensation for the senior partners is rumored to be tied to a five-year retention schedule.
What it means for advisors
The combined entity is expected to manage just over four billion dollars when the transaction closes. Regulatory filings are not expected to slow the timeline; the deal is expected to close in the third quarter. Talent retention will be the principal concern, executives said in an internal memo reviewed by InvestLin. Clients have been notified by letter and an email follow-up; the firm expects minimal attrition.
- Compliance staff inside the acquirer have been preparing for the integration since early March. Custodial rivals were watching closely, hoping to scoop up assets in any post-merger turbulence.
- It is the kind of deal that says less about price than about positioning for the next cycle. The deal is the latest in a wave of consolidation that has reshaped the channel over the past three years.
- Compensation for the senior partners is rumored to be tied to a five-year retention schedule. The combined entity is expected to manage just over four billion dollars when the transaction closes.
Compliance staff inside the acquirer have been preparing for the integration since early March. Both sides described the transaction as transformational, but neither would discuss financial terms on the record. Compensation for the senior partners is rumored to be tied to a five-year retention schedule. Insiders say the firm has been quietly building out its alternatives platform since last summer.
