How Slate Hill Partners plans to grow its wealth management business to at least $3.5B - Dallas Business Journal

"From our standpoint, this is where wealth is being created," Valdman said."This is where wealth will be managed."264 deals among RIAs last yearXO Managing Director Matthew Fuller said consolidation played a role in the decision to do a deal with SHP.

At the same time that XO began looking for a partner, SHP wanted to make an entry into wealth management. Valdman said he has been looking at acquiring an RIA for a couple of years but he wanted to wait to find the right deal. Valuations for firms skyrocketed the last few years during the explosion of M&A, Valdman said. He pointed to Goldman Sachs'"The valuations we just felt weren't sustainable," Valdmansaid.

For XO, partnering with SHP gives the firm access to more family office services and private equity investments. Fuller said some of his ultra-high-net-worth clients are exiting their own businesses and can benefit from family office services.As Valdman looks to do more deals, he said he remains focused mainly on partnering with small RIAs around DFW.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UNT Dallas partners to bring food pantries on its campus - Dallas Business JournalThe university partnered with the North Texas Food Bank to serve its students, faculty and staff but expanded its reach once the pandemic hit.
Source: DallasBizNews - 🏆 525. / 51 Read more »

How Slate Hill Partners plans to grow its wealth management business to at least $3.5B - Dallas Business JournalJoe Valdman, managing partner of Slate Hill Partners, said his firm can achieve its ambitious growth goals due to the healthy Dallas-Fort Worth market and consolidation in the RIA space.
Source: DallasBizNews - 🏆 525. / 51 Read more »