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Axial Radar: PE Targets Wealth Management


Axial Radar

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Happy Friday and welcome to another edition of Axial Radar!

The wealth management industry is in the midst of a major consolidation. So far this year, there have been 48 M&A transactions in the space, on pace to beat last year’s record breaking number of 82. Retiring founders can certainly account for some of those deals, but that’s nothing new. What’s driving all of the increased interest in the space?

“WealthTech” has taken the industry by storm – technology solutions enabling firms to provide better services at scale – and incumbents are feeling the pressure. Many of them are turning to M&A to improve their capabilities to curb the risk of losing market share to the new tech-enabled players on the scene. Scroll down to this week’s featured Industry Trends article to read more about PE’s growing activity in the wealth management space, and the characteristics of wealth management businesses that make them such prime targets for PE.

​Our featured buy-side members this week include a financial services company, a healthcare and business services-focused investment firm, and a leading Chicago-based PE firm. On the sell-side we’ll introduce you to two LMM M&A advisory firms.

Click here to follow Axial on LinkedIn and stay up to date on the latest trends in the world of Lower Middle Market deal making.


Featured Members

HIG Capital

OTT Pay Inc.

OTT is a leading innovator focused on providing tailored financial services to address the needs of both consumers and businesses. From new immigrants, international students and professionals to small and medium-sized businesses, OTT’s mission is to provide a comprehensive platform with customized, high-quality financial services.

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Kainos Capital

Speedshift Advisors
M&A Advisory Firm

Speedshift Advisors empowers lower-middle market business owners through every step of strategic and growth planning, assessing transition and exit options, and mergers and acquisitions. As owner/operators of businesses and investors, Speedshift leverages their expertise to plan, formulate strategies and tactics, advise, and execute strategies that result in measurable success for their clients.

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Westmount Ventures
Independent Sponsor

Westmount is an investment firm focused on private companies in the healthcare, technology, and business services industries. The firm partners with successful founder-led businesses seeking a pathway to an exit transaction.

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Smythe LLP
M&A Advisory Firm

Smythe LLP is a leading professional services firm with locations in Vancouver, Langley and Nanaimo. Since 1980, Smythe has been serving clients across BC and Canada, empowering them to grow and thrive. When it comes to accounting, assurance, taxation or business advisory services, Smythe provides tailored and expert consultation that helps organizations navigate their growth journey.

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FTI Consulting

NextGen Growth Partners
Private Equity Firm

NextGen Growth Partners (“NGP”) is a Chicago-based private investment firm that recently closed a $100M+ second fund. The firm is actively seeking great family/founder-owned businesses to partner with for their next phase of growth. NextGen is unique in that they provide flexible succession planning for founders/owners looking to exit the business post-close (whether that be immediately or several years after).

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Industry Trends

Wealth Management M&A: Scale Up and Digitize

Bain & Company

Source: Bain & Company

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