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14 Min Read John Eubanks, a director and CFP at Park Sutton Advisors, an investment bank in New York that specializes in financial services firms, says that private equity shops buying minority stakes in advisory firms “is a recurring theme right now.” The investments are attractive, he says, because of the growing profit margins at RIAs, an upswing that has led to “a premium in valuations being paid now.” Independent advisor practices have been in a flurry of mergers and acquisitions for years. “This industry is likely going through the beginning of another growth spurt,” says David DeVoe, the founder and CEO of DeVoe & Co., a consultant to RIAs. He says COVID-19 is the reason: When the pandemic hit, “advisors took care of their clients it’s the fiduciary mindset.”

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