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David DeVoe: How to Maximize Your RIA Firm’s Valuation
2025/6/3
Barron's Advisor
D
David DeVoe
David DeVoe: 作为Devoe & Co的创始人，我认为未来五到七年并购活动将持续火热。这不仅因为公司创始人的年龄结构，也因为他们需要外部解决方案。许多顾问寻求出售公司是为了获得更多乐趣，加入更大的组织可以带来积极影响，例如加速增长、提高运营效率和拓展服务范围。寻求规模效应是顾问出售公司的首要驱动因素，由此催生了“元顾问”的出现。这些元顾问不仅仅是大型公司，它们拥有成熟的管理团队、潜在的无限资本，并专注于差异化和卓越运营。在并购中，最重要的是找到最适合自己组织的买家，以实现目标，创造更好的未来。由私募股权支持的元顾问通常能支付更高的估值，而内部出售的估值通常较低。大多数顾问并非只看重金钱，战略问题通常比经济因素更重要。
Deep Dive
The podcast discusses the ongoing boom in RIA mergers and acquisitions, driven by factors such as aging founders seeking succession planning and the appeal of achieving greater scale. The emergence of "meta-advisors", large firms with sophisticated management and access to capital, is also highlighted.
- RIA valuations remain high
- Private equity is heavily involved in industry consolidation
- The trend is expected to continue for 5-7 years
- The primary driver is the pursuit of scale and stability
- The rise of "meta-firms" is reshaping the industry
Shownotes Transcript