

Almost identical to responses last year, advisors anticipate that the leading sources of growth will be referrals, new business from existing clients and business development.
While mergers and acquisitions have attracted considerable attention in recent years, particularly in the RIA channel, that inorganic route to growth remains relatively underused by most respondents. More than two-thirds of those surveyed — 68% — say they have not participated in any M&A activity over the past two years, much like the 72% who responded similarly a year ago. Over the next five years, 41% of survey respondents said they expect their firm will not make any acquisitions (versus 54% a year ago), while 26% thought their firm would make one acquisition over that time period, versus 21% a year ago.