Becoming a consolidator, rather than an aggregator, is about making better use of technology, writes Alex Cowan-Sanluis
The wealth sector is full of many consolidators. Similarly to other industries, there are acquisitive firms trying to create value by producing something greater than the sum of individual businesses. However, there are many examples of consolidators that are struggling to do that successfully. The question is, does 2+2 equal 10 or any other number greater than 4? In truth, plenty of such operators are more aggregator than consolidator. They have snapped up several businesses but failed to make the most of potential synergies necessary to reach scale and achieve higher multiples. C...
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