M&A activity in the industry is alive and well, especially in situations where it's simply a matter of bolting together scale.
JHS Capital Advisors of Tampa just announced that it's incorporating the retail business of Oregon-based Paulson Investment Company into its national network.
The deal brings Paulson's 75 advisors onto the JHS platform and gives them access to the JHS advisory capabilities as well.
On average, these advisors run about $14 million apiece for aggregate AUM of $1.1 billion.
JHS is currently a little bigger in terms of head count, but each of its 100 advisors handles about $20 million in client assets.
Paulson is keeping its institutional business. Only the advisors and the retail accounts are moving.
This is a pure scale move, but it gives both firms a lot more heft than either would have on its own.