First-time buyers at the M&A deal table surged 10-15% over the past three years, according to David DeVoe, Founder and CEO of DeVoe & Company. At the 2024 M&A+ Succession Summit in San Francisco, he revealed that while the top 10 acquirers once dominated the market, their pace has slowed, opening the door for a new wave of buyers. This shift, combined with the Fed signaling a decisive reduction in interest rates, will fundamentally reshape the M&A landscape for RIAs.
Growth remains the cornerstone of successful M&A, whether you’re buying or selling. But how can RIAs create the kind of growth that attracts buyers and boosts valuations? The answer, as several experts at the summit highlighted, lies in marketing.
Marketing for acquisition
For firms looking to grow through M&A, simply being visible isn’t enough. Catherine O’Hara, Head of Practice Management at Dimensional, emphasized that high-performing RIAs set themselves apart with a well-developed marketing strategy. In today’s environment, a combination of media relations, content marketing, and social media can position RIAs for long-term success.
Leverage Media Relations: A consistent media presence elevates your brand, helping to build trust and credibility with potential clients and buyers. Strategic media placements in key publications can showcase your expertise and reinforce your leadership position. By maintaining a steady drip of thought leadership content, you keep your brand top of mind in important industry conversations.
Develop a Content Marketing Strategy: A well-crafted content strategy allows firms to control their messaging while enhancing brand visibility. Blog posts, videos, podcasts, and articles can address key industry questions and topics, positioning your firm as a trusted source. A tactical content plan, amplified through targeted social media, helps RIAs build a robust online presence that resonates with both clients and potential buyers.
Meeting clients where they are
Blasting your brand everywhere in the hopes that something sticks was never going to be a viable marketing strategy for M&A. Instead, firms need to meet people on platforms they already use. Tony Parkin, President of DeVoe & Company, illustrated this point with a personal story: during a recent trip to Amsterdam, a restaurant with a line around the block caught his eye. While Parkin was impressed by the crowd, his kids already knew the restaurant from its presence on TikTok.
Even if TikTok might not be an RIA’s platform of choice, the lesson is clear: digital word-of-mouth is powerful. Lori Hardwick, of Genstar Capital’s Strategic Advisory Board, emphasized the importance of building an online presence that creates its own “buzz.” By establishing a consistent presence in the digital spaces your audience frequents, you make it easier for referrals to happen organically.
- Get your firm’s name in relevant publications, podcasts, and industry discussions.
- Use content marketing to answer key client questions and address trending industry topics.
- Amplify your efforts with social media, making your content easy to find and share.
The takeaway: build an online ecosystem of content that can be shared across platforms to create a digital word-of-mouth effect, helping you connect with the right audience and keep your firm part of the conversation.
To grow in the current M&A climate, RIAs must adopt a multi-faceted marketing approach that combines strategic media relations, thought leadership, and targeted content and social media strategies. By doing so, firms can position themselves for long-term success, standing out to both potential clients and buyers in an increasingly competitive marketplace.