In our May story titled “RIA M&A Pops,” we wrote that there were 24 M&A deals among Schwab RIAs during the first quarter of 2010, according to Schwab data. In fact, there were 24 M&A deals among RIAs industry-wide for the quarter. We also wrote that nine transactions were completed in the first quarter of 2009. The correct number is 19.
In our May Outstanding Advisor Award profile of Steven Michael Lear, we reversed his production and AUM figures. In fact, Lear manages $242 million and generates $1.3 million in production.
And in our May Outstanding Advisor Award profile of Paul Manfrey, we mistakenly stated that he was located in Atlanta, Ga. He is located in Tampa, Fla.
We sincerely regret the errors.