The first two quarters of 2019 were the fist time Fidelity has tracked back-to-back quarters with 30-plus RIA acquisitions. (Photo: Shutterstock)
Merger and acquisition activity among wealth management firms hit record volumes for the first half of 2019, according to data compiled by Fidelity Clearing and Custody Solutions.
Transacted assets under management, total deals, and deals over $500 million and $1 billion in AUM were the highest for any six-month period since Fidelity began tracking M&A activity in 2016.
All told, 73 deals amounted to $460.5 billion in assets transacted. Of those, 67 were RIA deals, totaling $69.5 billion in assets transacted. RIA transactions were up 49 percent from the first half of 2018, and assets transacted increased 55 percent.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
