Merger and acquisition deals flowed mightily this year, and few expect the torrent to slow in 2017.
"I see nothing that won't lead to more consolidation," says Marty Bicknell, chief executive of Mariner Wealth Advisors, which has over $10 billion in AUM. "I think there will be a flurry of deals next year and I'm not sure the activity will crest then."
Private equity firms flush with cash are poised to pounce when the opportunity is right. Some of the industry's most prominent RIA executives are also promising to be active in 2017.
Brent Brodeski, CEO of Savant Capital Management, is eager to expand and now has a war chest of around $50 million
, thanks to investments by private investors. One of those investors, Ron Carson, sold off 29% of Carson Group Holdings and plans to use the $35 million cash infusion from Long Ridge Equity Partners to make acquisitions for his own firm. Rob Francais, CEO of Aspiriant closed the year by acquiring Silicon Valley-based Stanford Investment Group
, pushing Aspiriant's assets past $10 billion, and says at least two more major deals are set for next year.
Please click on the arrow above to see the RIA market's key M&A deals in 2016. Data provided by DeVoe & Co. --Charles Paikert