Private equity firms have dominated the wealth management M&A market, driving three of the top five deals in Q1 2021, according to Echelon Partners. Aggressive consolidators helped push acquisitions to an all-time high, with professional buyers—strategic acquirers and PE firms—accounting for nearly half of all deals. The average AUM for transactions by these buyers reached $2.2 billion, highlighting their role in mega-deals.

Insurance brokers and specialty firms are also expanding, with Sammons Financial Group’s acquisition of Beacon Capital Management and Hub International’s purchase of Alpha Pension Group each involving roughly $3 billion in AUM. Echelon notes that $1 billion-plus firms remain highly sought after due to their mature platforms, strong infrastructure, and EBITDA cushions. Technology integration continues to drive deals, exemplified by Motive Partners and Clearlake Capital consolidating Tegra118, Finantix, and InvestCloud into a $1 billion+ TAMP with $4 trillion in assets under management…