RJ and Makay

Strong first quarter merger and acquisition activity among RIAs maintained deal momentum coming off a record-setting 2010 pace, according to a unit of Charles Schwab.

“The continued growth of the equity markets and the overall RIA industry helped create fertile ground for mergers and acquisitions in the first quarter,” said David DeVoe, managing director of strategic business development for Schwab Advisor Services. “On the broader side, RIA M&A is being driven by structural changes to the industry, such as the demographics of adviser principals on the seller side, and the continued investment from consolidators, private equity firms, and others on the buyer side.”