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M&A among RIAs sees record first quarter

As the fiduciary rule is currently written, it's got to affect the RIA fee-based advisory model, says Chris Jones, CIO at Financial Engines, the countrys largest independent RIA.

By Nick Thornton | Updated on May 12, 2017
As the fiduciary rule is currently written, it's got to affect the RIA fee-based advisory model, says Chris Jones, CIO at Financial Engines. (Photo: Bigstock)

Merger and acquisition activity among registered investment advisor (RIA) firms hit a record pace in the first quarter of 2017.

A total of 44 transactions were executed in the first quarter of this year, making it the most active ever for mergers and acquisitions in the RIA space, according to new research from DeVoe & Company, a boutique investment bank that consults on the sale of wealth management firms.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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