07.10.23
Wealth Management M&A Dips Slightly in Q2
by: Natalie Lin
Wealth management mergers and acquisitions activity declined in the second quarter of 2023, according to a report from Echelon Partners. There were 65 transactions in the wealth management sector during the quarter. “In 2Q23, quarterly deal volume fell to its lowest point since 2Q [2021],” the report stated. “This is partially driven by macroeconomic uncertainty affecting all industries but is also largely due to the seasonality in wealth management M&A activity. Buyers and sellers tend to close more deals at the beginning and end of the year which leads to a seasonality in deal announcements.” The report also highlighted that significant investments were made in large registered investment advisors (RIAs) during the year's second quarter. Almost half of all transactions in 2023 involved RIA targets with more than $1 billion in assets under management.
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