<\/p>\n
At the half-way point of 2026, a firm examines transaction trends for wealth management in three countries. Among the patterns is one of US businesses snapping up UK wealth houses. In Australia, the \u201cadvice gap\u201d and valuation levels are attractions.
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\n\t \t \t \t \t <\/p>\n
Coming to the UK
\u201cMeanwhile, Stone Point Capital\u2019s investment in Amber River and
\u201cUS sponsors continue to view the UK as an attractive entry point
\n Data from US firm\u00a0Berkshire
\n Global Advisors<\/a> adds to recent analysis shared
\n here<\/a> that shows\u00a0brisk activity, although with the
\n possibility that valuations have peaked.\u00a0
\n<\/p>\n
\n The report also covers the UK and Australia markets, analyzing a
\n trend of US firms acquiring stakes or outright ownership of UK
\n businesses.\u00a0
\n<\/p>\n
\n During the first six months of the year, there were 225
\n transactions involving US-registered investment advisors with at
\n least $100 million in assets under management, compared with 162
\n deals during the same period in 2025. That represents almost a 40
\n per cent rise on a year earlier, setting the market up for a
\n record year, the 2026 Midyear report said.\u00a0
\n<\/p>\n
\n In Australia, the need to close an \u201cadvice gap,\u201d\u00a0advisors”
\n succession\u00a0and relatively attractive valuations are
\n attracting private capital into the industry, it said.
\n<\/p>\n
\n US dealmakers
\n The report noted that the top dealmakers in the first six months
\n of 2026 were Carson Group (12); Savant Wealth Management (9);
\n Beacon Pointe Advisors (8); Hightower Advisors (8); Wealth
\n Enhancement (8); Cerity Partners (6); Merit Financial Advisors
\n (6); EP Wealth Advisors (5); Mercer Advisors (5), and Waverly
\n Advisors (5). The Carson Group figures include nine internal
\n consolidation deals, and the Hightower figures include six such
\n transactions.
\n<\/p>\n
\n A clear trend in the US was the size of firms involved: There
\n were 26 deals involving firms with more than $5 billion in
\n assets, versus 15 such deals in the same period a year earlier,
\n the report said. \u201cTransactions of this size reflect continued
\n consolidation among well-established firms, as well as the
\n ongoing recapitalization cycle among large\/mega RIAs,\u201d it
\n said.\u00a0<\/p>\n
\n The report said that the UK market remains fragmented and demand
\n for professional advice is outpacing\u00a0supply.\u00a0
\n<\/p>\n
\n \u201cWhat has evolved, however, is how those dynamics are showing up
\n in transaction activity. Ongoing consolidation has produced
\n larger, more institutionalized platforms, many of which now
\n require deeper pools of capital to support their next stage of
\n growth,\u201d it said.\u00a0
\n<\/p>\n
\n Recent deal activity reflects both sides of that shift. NatWest\u2019s
\n agreement to acquire Evelyn Partners for roughly \u00a32.7 billion
\n ($3.6 billion), represents a \u201csignificant strategic exit for
\n private equity and a major return by a UK bank to the financial
\n advice market.\u201d<\/p>\n
\n Goldman Sachs Alternatives\u2019 minority investment in The Private
\n Office show US-based capital pursuing opportunities across
\n different parts of the UK market, from established consolidators
\n to high-quality independent advice businesses,\u201d it
\n said.\u00a0<\/p>\n
\n into European wealth management, drawn by its fragmented advice
\n market, established regulatory framework and relative headroom
\n for consolidation,\u201d the report continued.\u00a0
\n<\/p>\n
\n Cross-border attractions
\n \u201cBeyond the domestic advice market, cross-border wealth
\n management remains active, particularly in the ultra-high net
\n worth and multi-family office segments,\u201d it said. A year ago,
\n US-based Corient, to give one example, acquired multi-family
\n offices Stonehage Fleming and Stanhope Capital, significantly
\n expanding the Miami-headquartered group\u2019s international
\n reach.\u00a0
\n<\/p>\n
\n \u201cDemand is strongest for firms capable of serving globally-mobile
\n families across the UK, Europe, the US and other international
\n hubs,\u201d the Berkshire report said.
\n<\/p>\n