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