Cetera deal for Avantax shows boom continues for wealth management assets
The price tag Cetera paid for Avantax was 180% of its revenues last year, an unthinkable sum for a broker-dealer just a few years ago.
Cetera Holdings this week said it was spending $1.2 billion to acquire the nearly 3,100 tax focused financial advisors at Avantax Inc., a clear indication that the valuations for broker-dealers and registered investment advisors are still climbing and no one knows how high they will go.
To put t
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