Wealth firms bought capacity, not size, in a 19-deal week
A $714 million median disclosed deal, $6.8 billion of moving advisor books and Mariner's $150 million loan add-on show financing and integration setting the pace.
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The Week in Wealth: Consolidation Runs on Debt, Teams and Metered AI
The week's deal, movement and flow data show consolidation and recruiting still running, but leverage, custody minimums and metered vendor costs are shifting the bill to RIAs.
The $947 Million Median Is Not the Bid a Sub-$1B RIA Gets
Owners of $250 million-to-$1 billion RIAs sell into a market defined by closed sub-$1 billion deals and founders who stayed, not by headline AUM.
UBS Bought $5.3 Billion of Recruits and Lost $11 Billion
UBS recruited eight teams and $5.3 billion of disclosed books while $11 billion walked out. An advisor holding the offer should price it after forfeiture, against that record.
Client cash moving to T-bills is a custody contract fight
Clients put $6.2 billion into the muni ETF and $5 billion into three-month bills in 30 days. That is a sweep-yield decision, and it gets priced at custody renewal, not on the fund menu.
Credit interval fund redemptions reach 79% of gross sales
Credit tender offer fund net sales fell 15% to $1.8 billion while interval fund repurchases absorbed most of the category's gross sales, Stanger data show.
A buyer's deal pipeline is not collateral for an RIA sale
Wealth managers announced 156 deals and closed 50 in 90 days. Sellers should price the buyer on closes, committed capital and who stays.
RIA sale prices turn on retention; the structure carries the multiple
Elevation Point typically takes a 20% minimum stake, while Concurrent bought $5.4 billion Spire as an asset purchase.
Busiest RIA buyers average $679 million a deal, below the median
Hightower announced three deals in the 90 days to Oct. 26 and closed none; one moved a $1.1 billion practice already inside the firm.