Fidelity Investments® 2023 M&A Valuation & Deal Structure Survey revealed a 237 percent increase in registered investment advisor (RIA) merger and acquisition (M&A) deals, with 492 reported transactions, up from 146 for the 2017-2019 study period.
The survey, which examines trends and buyer perceptions related to RIA M&A transactions, also uncovered that buyers reported larger deals vs. the previous study period, with the median AUM of acquired firms increasing from $250 million to $400 million.
The e study, which was last conducted in 2019, surveyed serial acquirers involved in nearly 500 deals over the last three years and accounted for virtually 75 percent of all RIA transactions tracked by Fidelity during that time.
“Despite market headwinds, the wealth management industry continues to be a vibrant space for M&A, with the environment rewarding high-quality firms with strong multiples,” said Laura Delaney, Fidelity’s vice president
