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14 Min Read John Eubanks, a director and CFP at Park Sutton Advisors, an investment bank in New York that specializes in financial services firms, says that private equity shops buying minority stakes in advisory firms “is a recurring theme right now.” The investments are attractive, he says, because of the growing profit margins at RIAs, an upswing that has led to “a premium in valuations being paid now.” Independent advisor practices have been in a flurry of mergers and acquisitions for years. “This industry is likely going through the beginning of another growth spurt,” says David DeVoe, the founder and CEO of DeVoe & Co., a consultant to RIAs. He says COVID-19 is the reason: When the pandemic hit, “advisors took care of their clients it’s the fiduciary mindset.” ....
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Carson Group Valued at $1B With New Bain Capital Investment thinkadvisor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thinkadvisor.com Daily Mail and Mail on Sunday newspapers.
Carson Group, Financial Technology & Services Leader, Selects Bain Capital as Strategic Partner prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.