Mergers and acquisitions continued to fuel growth in the independent registered investment advisor market last year, according to 2014 year-end data from Schwab Advisor Services.
The activity makes the independent investment advisory model one of the fastest-growing financial services segments and points to a healthy, sustainable industry, says Jonathan Beatty, senior vice president of sales and relationship management at Schwab Advisor Services.
There were 54 completed RIA merger and acquisition transactions in 2014, matching the total deals completed in 2013. Average deal size ticked upward by 9% from the previous year, with total assets under management going from $43.6 billion to $47.4 billion.
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