How the RIA industry's most prolific banker views the M&A market

Ian, Andrew and Alex discuss LPL Financial’s move to lay off 3% of its workforce, a story that broke in the same week that the firm’s stock sold off dramatically amid AI anxiety. They also dig into Cerity Partners’ $1bn deal with private equity firm Warburg Pincus, which values the…

Wealth stocks sold off sharply this week, triggered by a new AI-powered tax planning tool from custodian Altruist. But what does the tool do? And what does the selloff portend – the end of wealth management as we know it, or that listed legacy players will be disintermediated by new…

Ian, Alec and Alex discuss Barry Ritholtz, co-founder of $7.6bn Ritholtz Wealth Management, selling a portion of his stake in the New York City-based RIA to its employees as part of a planned internal succession. They also check in on LPL’s efforts to retain Commonwealth advisors following last year’s $2.7bn…

Ian, Alec and Alex discuss the outlook for mega-RIA Edelman Financial Engines under new CEO Ralph Haberli and the repercussions of last year’s failed sale. They also analyze a change at the top of Pershing and what this might mean for the platform in an increasingly competitive custodian market.

It has been a busy year for Hightower Signature Wealth. The business hit $21bn after merging in five new firms, is weighing a change to the way its advisors get paid and saw its head of succession planning depart. And we’re still in January! Ian, Sam and Alex dig into…