Global wealth management firms engaged in 65 merger and acquisition deals from the beginning of 2011 to the end of the third quarter of 2012, according to the 2012 Wealth Management Deal Tracker released today by Scorpio Partnership. During that 21-month period, $635 billion in assets under management changed hands, or 4% of all assets currently handled by the global wealth management industry.
Firms spent more than $9.42 billion for the acquisitions, or 2% of assets under management, down from nearly double that in 2010. The downward pressure on pricing is expected to continue, dropping to 1.5% in the next 12 to 24 months, according to Scorpio, a London-based global consultancy to the wealth management industry.
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