Wealth Managers Merge at Rapid Pace and PwC Sees Even More Ahead

Deals in the wealth management space surged in the third quarter and are expected to continue climbing in the new year.

Mergers and acquisitions in the sector jumped 15% compared to the prior quarter, according to a report from PwC. Wealth management deals comprised the bulk of that increase, rising 27% in the period.

Reduced financing costs due to the Federal Reserve’s rate cuts have boosted activity, the report said. Private equity capital continues to flood into the sector, targeting firms that are offering fee-based revenue streams and opportunities to scale platforms.

Deal value has more than doubled since ...