As M&A upends IBD sector, 24 teams and execs make moves
Recent eye-popping M&A deals are reshaping much of wealth management and leading thousands of financial advisors to switch firms. While the record-breaking consolidation affects each company and advisor differently, a look at some of the most recent moves can illuminate the key trends in the rapidly evolving industry.
Advisor Group was involved in the two largest deals of the year in the independent broker-dealer sector last year, with the private equity-backed firm's $1.3-billion acquisition of the Ladenburg Thalmann network expected to close in the first half of 2020 and bring some 4,400 advisors into the fold. Reverence Capital Partners reportedly paid more than $2 billion to acquire a 75% stake in the 7,000-advisor network in August.
Financial Planning has rounded up the 24 most recent IBD advisor and executive moves. Together, they paint a picture of a highly competitive but fragmented industry. All dates on BD status come from FINRA BrokerCheck, while the SEC IAPD database and company announcements provided the information about their RIA and office of supervisory jurisdiction affiliation.