Private equity-backed consolidators need platform uniformity to grow — but without sacrificing acquired RIAs' unique strengths.

Industry trackers see Raymond James' proposal to buy minority stakes in its independent affiliates as a good way to reinvest while also warding off outside competition.

A unit of the bank bought by UBS in 2023 pleaded guilty to conspiring to help its customers hide more than $4 billion from the Internal Revenue Service in at least 475 offshore accounts

The CEO of Summit Wealth said that even before LPL announced its acquisition deal, he and his colleagues were already finding Commonwealth too big for their liking.

Could an economic downturn slow the industry's record-setting pace of acquisition deals? Sure, experts say, but not by much.

Experts say it's not just about cold, hard numbers. Knowing client expectations can also make or break any potential deal.

As LPL fights to keep teams in the fold, competitors are making strong plays and pointing to the large brokerage's perceived blemishes. The founders of KRM Investment Counsel said they also found what they wanted at Arkadios, an employee-owned firm.

CEO Paul Shoukry also told analysts that the merger and acquisition deals coursing through the industry could open doors for firms eager to bring in advisors and net new assets.

Agreements from LPL Financial and Betterment top a host of merger and acquisition activity that has jumped since the start of this year.

The choice of brokerage or RIA firm involves any number of factors and a range of timelines. Here's what the numbers and experts suggest are the main drivers.