Penney also predicts more wirehouse breakaways due to the paring back of big recruitment deals by the wires.
“It’ll be an accelerator” to the independent trend, he said. It always paid to set up an independent RIA firm versus take a check, but “the economic comparison is far better now.”
RIA Firm Prices Rising To Insane Levels, Exec Says
June 15, 2017
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Hmmm...12-14X EBITDA? Easy money chasing deals; I would sell at that multiple all day except the key variable is whether owner salary is expensed before arriving at EBITDA. EBOC seems a better measure and then carve out salaries post deal which are not included in the 12-14X number