Wealth Advisors & RIAs Deals: ERISA & Benefits Diligence Done Right
Independent sponsor counsel for wealth advisors and RIAs, focused on ERISA & Benefits Diligence and the deal mechanics that protect sponsor economics and LP alignment.
Every wealth advisors and RIAs acquisition has its own gravity. ERISA & Benefits Diligence is the workstream where independent sponsor counsel earns the seat.
The typical wealth advisors and RIAs platform sits at $10M to $180M EV with EBITDA in the $3M to $25M range. The thesis runs on RIA aggregation or wealth platform roll-up. Client consent process is the longest pole. Start it the day after the LOI signs.
How ERISA & Benefits Diligence actually gets structured.
Pull the 5500s and audit reports for the last three years.
Identify any controlled-group exposure that follows the seller post-close.
Address multi-employer pension withdrawal liability where applicable.
Plan the benefits transition to the buyer's plans, with a TSA period if needed.
In wealth advisors and RIAs, layer in negative consent process timed with regulators as part of the ERISA & Benefits Diligence workstream.
Skipping the multi-employer pension review. It can show up as a 7-figure surprise three months post-close.
"ERISA is the silent deal-killer. Treat it like senior debt diligence."Jason Powell · ERISA & Benefits Diligence
The deal is one thing. The capital that opens up after close is another.
Refinancing, recaps, growth rounds, and the right strategic conversation eighteen months early are all downstream of relationships that take years to build and minutes to use.
Related deal pages.
Independent Sponsor Economics for Wealth Advisors & RIAs
The package of deal-by-deal carry, management fees, and transaction fees that compensates the independent spo…
Management Fee Structuring for Wealth Advisors & RIAs
The annual fee paid by the deal entity to the independent sponsor for ongoing oversight, board service, and p…
Transaction Fee Structuring for Wealth Advisors & RIAs
The fee paid at closing to the independent sponsor for sourcing, structuring, and closing the platform deal a…
Equity Rollover for Wealth Advisors & RIAs
The portion of seller proceeds reinvested into the post-close entity, aligning seller with buyer.
ERISA & Benefits Diligence for Healthcare Services
roll-up of physician practices and ancillary service lines
ERISA & Benefits Diligence for Home Services
regional roll-ups of HVAC, plumbing, and electrical operators
An LOI on the desk, a wealth advisors and RIAs target, and a ERISA & Benefits Diligence question worth a real conversation.
Twenty minutes of practitioner-grade input from a securities attorney whose first move is to read the deal, not the engagement letter.