Consolidators such as Focus Financial Partners and HighTower Advisors may be busy gobbling up RIA firms, but a potential smorgasbord still awaits them, according to new research from Cerulli Associates.
The total addressable market for RIA acquisitions over the next five to 10 years is $2.4 trillion in AUM, the research firm estimates. Compare that to the $308 billion that Cerulli says major RIA consolidators currently manage, and you get a sense of how big the market opportunity is.
(The 10 major RIA consolidators included in the research are Focus, HighTower, AMG Wealth Partners, Dynasty Financial Partners, United Capital, Mariner Wealth Advisors, Mercer Advisors, Carson Group, Beacon Pointe Advisors, and Steward Partners.)