Citywire This Week in Wealth

What Constellation looks for when buying RIAs

Loading player...
This bonus episode of This Week in Wealth features a fireside chat with Karl Heckenberg, founder and managing partner of Constellation Wealth Capital.

Since its launch in 2023, Constellation has invested in 18 RIAs, which have a combined $340bn in assets.

At last week’s Citywire CIO Summit in Austin, Texas, Karl told Andrew Foerch about the rapidly changing RIA M&A landscape. They discussed why larger platforms are struggling to attract their desired multiples, how public markets value wealth managers, and the green flags Karl looks for when striking a deal.

We’ll be back again for a regular episode of This Week in Wealth on Friday.
7 Oct English United States Investing

Other recent episodes

An RIA M&A juggernaut switches CEOs

This Week in Wealth breaks down the C-suite shuffle at Merit Financial Advisors, a $32bn Georgia-based RIA that has become one of the most acquisitive firms in the market. At the end of a year in which the firm will have completed 15 deals, Merit’s founder and chief executive Rick…
25 Sep 21 min

Can Claude change the game for RIAs? 

Ian dials in from the Future Proof conference in Huntington Beach, California, to give the lowdown on Anthropic’s Claude for Financial Advisors suite and dig into the AI firm’s tie-up with custodian Charles Schwab. Alex and Ian also discuss Creative Planning’s acquisition of RVK Inc., an institutional investment consultancy overseeing…
18 Sep 17 min

Decoding an RIA tech mega-merger

Ian and Alex fire up the transatlantic telegraph cable to break down Envestnet’s deal for Vestmark (news that Citywire RIA readers saw before anyone else). They also discuss New York City-based RIA Savvy Wealth raising $100m via a Series C funding round and Schwab Wealth Advisory hiking fees for certain…
11 Sep 21 min

AI comes for RIAs (in a good way!)

Artificial intelligence company Anthropic is creating a menu of wealth managers to service its employees following its initial public offering later this year, which could be a huge boon to any RIA that makes the list. Ian unpacks his scoop, explaining what Anthropic has asked of wealth managers and how…
4 Sep 20 min
All episodes