Deal volume in the RIA space is up 30% from last year, and “valuations are at an all-time high," said DeVoe & Company, the San Francisco-based consulting firm and investment bank.
Lido Advisors, an RIA in Los Angeles, said Thursday it is taking First Western Financial Inc.'s Los Angeles-based fixed income portfolio management team in-house.
Charles Schwab's 2019 RIA Benchmarking Study revealed new clients sustained their firms' business performance, even as AUM fell slightly in 2018, a result of market volatility.
The wealth management division of Bank of America made nearly $5 billion this quarter and is on track to bring in 70,000 new household clients this year, even as fee-based asset management growth has waned after DOL pullback.
Speaking at Pershing’s RIA Symposium, some high-end firms say it’s the family-office-like services that are driving organic growth and client stickiness in their businesses.