Wealth Managment Companies

intermediary profile

October 15, 2022

by an intermediary from McMaster University - DeGroote School of Business in Toronto, ON, Canada

Hello,

I am looking for advice on rolling up wealth management companies in either Canada or USA. Is this a viable business model to roll up? Are there any legal/regulatory concerns I should be aware of? Thx

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commentor profile
Reply by a searcher
from Boston College in Newport, RI, USA
Was previously an RIA. It's been a fairly popular play to roll-up small independent advisors for the past 15+ years. And yes, regulatory factors are a significant consideration (FINRA, SEC, state agencies). Unless you have previous experience passing all the tests needed, it's probably not worth the amount of upfront effort to prepare yourself for it. Happy to talk it through if helpful.
commentor profile
Reply by a searcher
from The University of Chicago in De Pere, WI, USA
Would echo many of the comments here on multiples being quite rich. There has been a huge appetite for rolling-up the space along with taking advisors away from the wirehouses. The advisors are very commercially-minded and typically maximize their exit $$.
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