Deals on the Rise as RIAs Use M&A Activity to Spur Growth

Summary: RIAs are looking to grow and are seizing on the opportunity to scoop up smaller firms, according to new report by Schwab Advisor Services. RIAs were the biggest buyers of other RIAs last year, with 44 percent of the 54 overall merger and acquisition deals for 2013 completed by RIAs. Smaller firms in particular utilized the deals as a growth strategy during the second half of the year, Schwab found.