Kestra’s CEO says there are an increasing number of b/ds looking to sell, especially in the current environment, and his firm is interested in adding an employee channel via acquisition.
Even as the number of advisors jumping channels has slowed during the pandemic, it has not stopped independent channels from continuing to attract the most net new advisors, according to new data.
After managing his own registered investment advisory since 2004, Bedminster, N.J.-based Robert Bacino moved his book of business back to the employee model.
Despite 2019 being a record year for M&A activity, 2020 will likely see fewer deals consummated, due to the coronavirus, according to recent M&A reports.