News, Vision & Voice for the Advisory Community


What happened when Fidelity Investments called 25 deal-making protagonists to its Boston sanctum for a talk about the suboptimal RIA M&A market

David Canter recounts what his company set out to do, who showed up and what the pooling of ideas yielded

Author Guest Columnist David Canter September 30, 2013 at 5:38 PM
no description available
David Canter: From the session on valuation, we learned that it's more complex than most are willing to admit.



RIA Custodians

Dave Welling

Dave Welling

October 3, 2013 — 4:47 PM

A great topic and a great group of folks to provide perspective. From my years at a major custodian which included running the practice management group and my current role working with close to 500 advisor firms I can tell you the themes have been constant over the years despite the ups/downs in # of deals. Here are a few that I see regularly…

1. Sellers often have an inflated view on the value of their business
2. Many firms still running a practice, not a business and haven’t addressed risk issues (succession, dependency on 1 individual etc.) – see #1 as this is a key reason why the perceptions of value are so different.
3. A lot of the bank and other public company deals didn’t work out great for the seller. Financially maybe, emotionally less so. Advisors know this. Seems like the banks know it too.
4. The more successful deals appear to be the mergers, fold ins to existing RIAs. Especially if they align to create one firm. These are hard for all the reasons you cite at the beg. of the article.

Lots of other good guidance in the article. Especially liked the met with 120 to acquire 4.

Brooke Southall

Brooke Southall

October 3, 2013 — 4:51 PM


Thanks for lending your hard-earned perspective and writing it in terms we can get.




June 26, 2014 — 3:43 PM

Talking about its seems to be and specifications, Apple apple iphone is able to impress the user into a good extent. One of the most interesting feature of this system is its all contact display screen interface, as well as it supports options as multi-touch input strategy, accelerometer sensor for auto-rotate and proximity sensor for auto turn-off in its TFT display that emits a spectrum of 16 million colours by means of it.



June 26, 2014 — 5:09 PM

You will discover numerous factors to speak about in order for you to discover effects quick, nonetheless if you want for being certain you are training in your max prospective, ensure you won’t ever fail to remember these 3 strategies.

Related Moves

April 2, 2024 at 1:28 AM

Joanna Rotenberg is departing Fidelity Investments after only two years, writing that she traveled 20,000 miles and successfully split her retail division into wealth and brokerage units

At her hire, analysts were adamant the head of Fidelity retail had 'big shoes to fill' to replace legendary Kathleen Murphy and her task of 'digitiizing' retail was no small ask

December 16, 2023 at 2:22 AM

Shirl Penney hands over 'front end of the house' to Andrew Marsh as Dynasty reboots -- post-$100-million raise, post-IPO withdrawal and post-Schwab partnering

The Dynasty CEO is handing over sales, custody relations, breakaways and M&A sales to the un-retired Canadian -- and wildly promoting from within.

September 21, 2023 at 1:53 AM

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

See more related moves

Mentioned in this article:

Advisor Growth Strategies, LLC
Consulting Firm
Top Executive: John Furey

DeVoe & Company
Consulting Firm
Top Executive: David DeVoe

RIA Welcoming Breakaways, RIA Seeking to Hire Advisors, Advisory Firm
Top Executive: Marty Bicknell

Park Sutton Advisors, LLC
Mergers and Acquisition Firm
Top Executive: Steven Levitt

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings

Common Tags

Recent Articles

Popular Writers

RIABiz logo


About Us




RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.