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Banks, independent dealers, private equity firms and consolidators are seeking exposure to high-margin, recurring, fee-based revenue. Share Save for later Please log in to bookmark this story. Log In Create Free Account

Succession planning has long been the Achilles’ heel of the wealth management industry. Some studies suggest that 80 to 90 per cent of advisors have no formal succession plan – a startling gap for a profession built on planning for others.

At the same time, the industry is experiencing an unprecedented wave of consolidation. The result? A perfect storm of capital, urgency and opportunity.

Two recent transactions capture this moment: Bank of Montreal’s acquisition of Burgundy Asset Management Ltd. and Sagard Private Equity Canada’s take-p

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