RIA Firms Ride Consolidation Wave

Published in Investment News, June 3 2017

Against the backdrop of the relatively short history of modern financial planning, it appears there has never been a better time than now to be participating in this industry.

Many of the things often identified as challenges, including regulatory changes and fast-evolving technology, are becoming the industry's main drivers toward the future, which can be summed up in a single word: consolidation.


Rick Suarez, partner and managing director at $6 billion Clarfeld Financial Advisors, recognizes the consolidation trend but warns sellers to look before they leap, especially if they're selling as a succession plan.

"Even though the world has evolved over the past several years, I still see the most common topic at every conference is succession planning and exit strategies," he said. "The problem that exists within the consolidation world is what the consolidators are doing with the assets."