News
WEG buys $1.3bn Philadelphia hybrid RIA
The acquisition of Levy Wealth Management Group brings private-equity backed WEG to $90.5bn in total client assets.
Wealth Enhancement Group’s (WEG) eleventh RIA acquisition of 2024 is also its largest of the year so far.
The private equity-backed mega-RIA announced on Thursday that it has snapped up Levy Wealth Management Group, a hybrid firm based in Philadelphia with more than $1.3bn in assets under management and advisement.
David Selig of M&A consultancy Advice Dynamics Partners served as Levy Wealth’s advisor in the transaction.
Private Equity’s Iron Grip On RIAs Grows
Fresh data shows that in 2023, and early this year, private equity is an increasingly dominant player in mergers and acquisitions involving registered investment advisors. We probe what's going on.
- Family Wealth Report, February 20, 2024
Recurring revenue model attractive
Based on the volume of inbound inquiries investment banker Advice Dynamic Partners is receiving to date from private equity firms, there are ‘no signs that PE will not continue to deploy capital at a strong pace in 2024,’ said firm CEO David Selig.”
