With marketing, reporting and the Junxure CRM, the acquisition brings much more than a robo advisor to the asset manager.
| | | | | Q: Right now, we’ve got record consolidation, we’ve got record M&A activity across wealth management, just from a volume of transaction point of view. What could be the impact of the end of the bull market in equities?
A: “I think we’ll see some of the firms that have become highly leveraged start to potentially realize some cash flow issues. We’ve seen well-established firms that have grown organically over the last 10, 20, 30 years — they’ll be positioned fine. They’ve put themselves in a position where pursuing an acquisition growth strategy, even at premium levels in terms of the prices and valuations, they’ll survive. They’ll be fine. But we are seeing smaller startup firms or firms that were smaller in nature, and maybe they’ve grown from $100 million to $1 billion in assets over the last five to six years and done so by way of debt. So I think one piece of the puzzle looking forward is understanding who ultimately is going to be impacted by the market when it does turn,” says PPC Loan Managing Partner Dustin Mangone. | |
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