Charles Peikert interviewed some of the attending business leaders at the Echelon Partners’ annual Deals & Dealmakers Summit. “There’s a scarcity of good assets,” said Ed Swenson, COO of Dynasty Financial Partners, in an interview. “It’s like beachfront property. There’s only so much of it and everybody wants some. That scarcity leads to strong pricing.”
What’s more, buyers backed by private equity capital are under pressure to grow quickly and buy firms, noted Corey Kupfer, a high-profile industry attorney.
“Buyers are facing a lot of competition and it’s easy to be less disciplined about spending when you’re playing with other people’s money,” Kupfer told Financial Planning.
Read more in Peikert’s article.