DeVoe Forecasts First Annual Decline in Advisor M&A

For the first time in at least nine years, the registered investment advisory industry could see a decline in mergers and acquisitions. That’s the grudging 2023 forecast of DeVoe and Company, the advisor consultancy and investment bank that produces a quarterly deal book chronicling M&A activity in the industry.

DeVoe is out with its third-quarter report, which saw early momentum in the period stall, leaving the group to conclude that “the likelihood of 2023 being a down year is calcifying into a reality.”

“RIA…