Why private equity wants a piece of the RIA market
December 9, 2017 | Jeff Benjamin | InvestmentNews
The secret is out: The independent financial advisory space is the hottest growth-investment strategy for deep-pocketed private investors.
“We’ve seen private equity money ebb and flow over the years, but over the last few years we’ve seen a surge and a change in the way PE firms are investing in the RIA space,” said Scott Slater, vice president of practice management and consulting at Fidelity Clearing & Custody Solutions.
In the latest testament to the success of the wealth management model, private equity firms have been pouring billions into the space to take advantage of a consolidation wave those same investors are helping to fuel.
