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Despite Dip In 2023, DeVoe Sees "Healthy" M&A Market Ahead

Charles Paikert

25 January 2024

Despite a slowdown in RIA dealmaking activity last year, industry experts expect a rebound in volume in 2024.

M&A activity for independent advisory firms declined for the first time in a decade, dipping 5 per cent to 251 transactions, according to DeVoe & Company’s RIA Deal Book. DeVoe competitor ECHELON Partners reported a decline of 6 per cent, but recorded 80 more deals.

High interest rates, the resulting increased cost of capital and negatively impacted debt ratios were cited as “the main culprits” of last year’s slowdown, according to industry reaches a saturation point in terms of the point where it’s over consolidated.”