Fidelity Investments reported this week that robust M&A activity in July followed on the heels of a record-setting first half.
According to Fidelity’s latest Wealth Management M&A Transaction Report, seven RIA transactions took place in July, the same number as a year ago, but represented $16.5 billion in assets under management, up by 164% from the year-ago period.
Seventy-five RIA transactions occurred through the first seven months of this year, an increase of 44% over the same 2018 period, representing $86.1 billion in assets, a 68% increase.
There were also seven transactions in the independent broker-dealer channel for the year to date, up by 40% over last year, representing $392 billion in assets, down by 1%.