What is an aggregator in the context of a Registered Investment Advisor (“RIA”)?

Definition: An “aggregator” model typically describes an RIA whose business model to is to acquire, and hence “aggregate” several advisory practices under a single entity. (At times also referred to as a “roll-up” model.)

When used in an RIA context: “The RIA sold their practice to an aggregator firm as part of the RIA’s succession plan.”

See also: Episode #130, roll-up