The Dark Side of Dealmaking

Summary: Dealmaking in the wealth management industry is red hot; deals in the registered investment advisory space have already surpassed 2020 volumes, and the year is not over yet. Further, valuations are at all-time highs, with some—as a multiple of cash flows—reaching the high teens for firms with $10 billion or more in assets, according to David DeVoe, founder and CEO of DeVoe & Company, speaking at the annual MarketCounsel Summit in Miami this week.