Consolidation of consolidators to ramp up amid 'new phase'

Mergers and acquisitions (M&A) remains high in the advice industry, with talks now of bigger consolidator firms beginning to snap up firms who are consolidating themselves. "We're entering a new phase of consolidation in UK financial advice," NextWealth managing director Heather Hopkins told PA. "Many PE investments made in 2019 and 2020 are now reaching maturity, and as a result, we expect a wave of exits and ownership transitions over the next 12 to 24 months." Hopkins said this "sets the stage" for "consolidation of consolidators" – a trend that she believes is already underway and...