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.
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