“We’ve got strong equity markets, strong valuations, and advisers are wondering what they’re waiting for as they get closer to retirement,” he said. “And there are so many qualified buyers these days. Years ago, if you were a $1 billion RIA, you might be talking to a $1.5 billion RIA and wonder how they would be able to integrate the two firms and make it work. But today, some of these bigger buyers present new opportunities, which means there are more options for sellers.”With the first quarter in the books, Echelon is forecasting a record 255 deals this year, which compares to 205 last year and just 168 as recently as 2017.“It’s still early and anything can happen, but with the pace from the first quarter we’re well ahead of anything we’ve seen,” Bruno said. “These deals typically take 12-to-18 months, so we do have pretty good visibility into the pipeline. But it’s not just math, it’s a combination of the first-quarter activity, activity we’re already aware of, and some outlook on deals that could be driving activity on the back half of the year.”In addition to the greater number of deals, the size of the deals continues to expand. Newsletters The 76 deals announced in the first quarter compare to 46 deals during the same period in 2020, when the Covid-19 pandemic was starting to take hold and had a dampening effect on deals during the first six months of last year.But Bruno said the pickup in activity since the middle of last year can’t be explained as just pent-up demand. 1 The Gates divorce: Lessons for financial advisers 5 For reprint and licensing requests for this article, click here,MOST READ InvestCloud to acquire Advicent and NaviPlan planning software 2 House committee poised to advance SECURE 2.0 retirement savings bill 3 The quarterly updates on mergers and acquisitions in the financial advisory space are sounding like a broken record as the string of unprecedented activity continues with no slowdown in sight. 4 The 76 deals announced during the first three months of 2021 broke a record set in the final three months of last year, when 69 deals were announced. And that fourth-quarter record had eclipsed the record 55 deals in the third quarter, according to Echelon Partners.Analysts point to multiple factors driving the white-hot pace of consolidation, including the aging adviser demographic, a flood of hungry private equity money and the expanding array of qualified buyers.But the newest boost to M&A activity could be the threat of higher taxes under the Biden Administration.“It’s pretty rare that there might be a common deadline for deals, but there’s the belief that the new administration could make changes to capital gains taxes, and the potential for those kinds of tax changes puts a little more urgency into the mix,” said Mark Bruno, managing director at Echelon.“Definitely, some people are thinking about it,” Bruno said. “They might have been dragging their feet and now they see it as the right time to sell.” Excluding outlier deals above $20 billion, the average assets under management of the target firms during the first quarter was $2.3 billion, which reflects a 29% increase over an average AUM of $1.8 billion for all of last year’s deals.The compound annual growth rate in the size of acquired firms dating back to 2015 is 17%. House panel unanimously passes SECURE 2.0 Why Tony Robbins, tax shelters and financial advisers don’t mix Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team.
Share Yelton announces 2012-13 schedule Senior Hanna Vette looks to finish her career on a high note this season for UWF (Photo by Bill Stockland) PENSACOLA, Fla. – Stephanie Lawrence Yelton will begin her tutelage as the head coach of the University of West Florida women’s basketball team with a trio of tournaments to begin the 2012-13 season. The Argonauts will play host to two tournaments including the Tip Off Classic on Nov.9-10 and the Thanksgiving Classic on Nov. 23-24. The Tip-Off Classic includes Barry, Georgia Southwestern, and Southern Indiana.The Thanksgiving Classic will include Gulf South Conference member West Alabama, Flagler and former conference foe Lincoln Memorial. In between the two home tournaments the Argos will head to North Georgia to compete in the North Georgia Tournament on Nov. 16-17.UWF will play 30 regular-season games including 18 conference contests beginning Nov. 29 at North Alabama. The Argos will wrap up 2012 facing newly welcomed GSC member and last seasons’ NAIA National Final runner-up Union (Tenn.) University on Dec. 1 before facing MilesCollege on the road on Dec. 8 and at home on Dec. 17. The Argonauts will open up 2013 by facing new GSC member Shorter University at home on Jan. 3. Next on the schedule for the Argos is Alabama-Huntsville at home on Jan. 5; UAH went 2-0 against the Argonauts last year. UWF will then hit the road to face West Alabama on Jan. 10 and West Georgia on Jan. 12. The Argos will look to get revenge against West Alabama, who knocked UWF out of the GSC Tournament in the quarterfinals last season.UWF will then head home for a five-game stint beginning with Valdosta State on Jan. 19. The Argos will hit the road and head to Shorter on Feb. 7 and then to UAH on Feb. 9. West Florida will make a quick return home to once again face West Alabama on Feb. 14 and West Georgia on Feb. 16. UWF will finish out the regular season on the road to face Valdosta State on Feb. 23, Delta State on Feb. 28 and Christian Brothers on Mar. 2. Following the completion ofthe regular season schedule, the Argonauts will take part in the GSC Tournament where they look to make up for 57-60 first-round loss to West Alabama last year. The Argonauts return several key pieces from last year’s campaign, including Hanna Vette who scored 12.8 points per game and led the team in 3-point field goal percentage (.382) last year. Fellow junior Kelseigh Hughes added a team-high 79 assists last season and will help Vette carry the workload.The 2012-13 will also be the first year for Yelton’s new assistant coach John Motherwell. For information on all UWF Athletics, visit www.GoArgos.com2012-13 UWF Women’s Basketball Schedule#ARGOS#Print Friendly Version
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