Dyer Baade & Company's Daniel Baade: £500m-£2bn AUA firms key battleground in wealth M&A's next phase

The underlying case for consolidation in the wealth management sector remains as pressing as ever.  Roughly half of the UK's 5,000 Financial Conduct Authority-regulated IFA firms are still one-man bands, feeling the pressure in an increasingly demanding regulatory environment and badly in need of the scale and governance consolidation can provide. What has changed is the discipline with which capital now pursues that opportunity.  Five years ago, private equity-backed buyers routinely underestimated how easily advisers' clients walk when a relationship turns transactional, chasing ...