Lido Advisors has signaled it may become the next major U.S.-based wealth management firm to expand internationally through acquisitions, according to its co-CEO. Speaking at the recent RIA Edge Orange County conference, Ken Stern framed cross-border growth as a logical next step for firms seeking to scale beyond domestic markets.
Stern dismissed the idea that the U.S. alone could sustain long-term growth, pointing to untapped opportunities in regions like the Middle East, Europe, and Asia. “How do you not think about the Mideast? How do you not think about Europe in several aspects?” he asked. “There are incredible opportunities to bring all that together.”
While acknowledging the regulatory challenges of international deals, Stern emphasized that Lido’s growth strategy already spans multiple regions. “We’re a growth firm,” he said. “There are incredible opportunities to bring all that together.” He added that the firm has reached a point where it can “run all over the world.”
Lido’s potential move would follow a small but growing trend among U.S. registered investment advisors (RIAs). Earlier this year, Creative Planning completed its first international acquisition with Baseline Wealth Management, which operates in Geneva and Zurich and manages over $1 billion in assets. Corient, based in Miami, expanded into Europe last year by acquiring two U.K. wealth managers overseeing a combined $214 billion in assets. Wealthspire has also made two U.K. acquisitions, including Atlantic Swiss, a London-based boutique firm with $1 billion in assets.
Unlike some RIAs pursuing rapid dealmaking, Lido plans a more measured approach. Stern stressed that organic growth remains the firm’s top priority, though he rejected the idea that a company of its size—currently managing $200 billion—faces diminishing returns. “What I don’t agree with is that any of us in this room have come anywhere close to any kind of maturation, or any kind of slowdown in the potential,” he said. He cited factors like generational wealth transfers and rising demand for multi-service advisory as evidence that the industry’s growth potential remains strong.
Stern also noted that even reaching $500 billion in assets would represent only a fraction of the addressable market. “We don’t even move the needle 1% in the addressable market,” he observed, suggesting that international expansion could help Lido capture a larger share of global wealth management demand.
Lido Advisors’ Stance on Domestic Growth Limits and Industry Potential
Ken Stern rejected the notion that U.S.-based wealth management firms have reached a ceiling in domestic growth, arguing that current annual asset increases of 5% to 6% significantly underestimate industry capacity. He framed the present period as one of abundant wealth accumulation, suggesting that factors like generational transfers and demand for full advisory services will sustain expansion.