Miami's Financial Services M&A Boom: What the $236M Coral Gables Deal Tells You About South Florida Right Now

The Deal That's Got Everyone Talking in South Florida

In June 2026, Denver-based Arax Advisory Partners quietly acquired Millares Asset Management — a well-regarded wealth management firm based in Coral Gables — adding $236 million in assets under management to its growing platform.

On the surface, it looks like just another RIA acquisition. But if you're a financial services business owner in Miami, Fort Lauderdale, or Boca Raton, this deal is telling you something important about the market you're sitting in right now.

National buyers are coming to South Florida. And they're not window shopping.

Why Miami? Why Now?

Let's be honest — Miami has always been a unique market. No state income tax. A gateway to Latin America. A magnet for high-net-worth individuals relocating from New York, California, and beyond. But what's happening in 2026 is different in scale.

Cross-border M&A involving Latin American buyers hit a record $4.7 billion in the Miami metro in 2025 alone. That's not a blip — that's a structural shift in how national and international capital views South Florida financial services businesses.

Add to that the Baby Boomer retirement wave — an unprecedented number of financial advisory firm founders hitting their 60s and 70s with no succession plan — and you've got a market where quality supply is meeting aggressive demand. That's a seller's dream.

What the Millares Deal Actually Signals

So what does a Denver firm acquiring a Coral Gables wealth manager tell you about the market right now?

A few things. First, geography is no longer a barrier for buyers. National RIA platforms and private equity-backed consolidators are not waiting for a local deal to fall in their lap — they're actively hunting in markets like Miami, Aventura, and Weston because that's where the wealth is concentrated.

Second, $236 million in AUM is not a massive firm by institutional standards. This is a mid-sized, owner-operated practice. The fact that it attracted a buyer from Denver tells you that even smaller, well-run financial services businesses in South Florida are on the radar of sophisticated acquirers.

You don't have to be a $1 billion firm to get a premium exit.

The Valuation Reality Check Nobody Gives You

Look, here's what most financial services business owners get wrong about valuation: they think their business is worth what they feel it's worth. That's not how buyers see it.

In 2026, quality financial services practices in Florida are trading at 3x–7x EBITDA, depending on a few critical factors:

• Recurring revenue percentage: Firms with 80%+ recurring revenue (retainer-based advisory, AUM fees, subscription models) command a 0.2x–0.4x revenue premium over transaction-heavy practices.
• Owner dependency: If the business walks out the door when you do, buyers will price that risk in — hard. Documented SOPs, a real management team, and transferable client relationships are worth real money.
• Clean financials: Three years of tax-consistent, well-documented financials are non-negotiable for serious buyers. Anything less and you're leaving money on the table.

Accounting practices — another hot segment of the Miami financial services market — are trading at 0.8x–1.5x annual revenue, with PE-backed consolidators like Ascend (which just completed its largest deal with Miami-based KSDT) driving multiples higher for platform-quality firms.

The SBA Lending Shift That Changes Everything

Here's a market development that's not getting enough attention: SBA 7(a) lending caps just increased to $10 million.

What does that mean for you? It means a buyer who previously couldn't finance an acquisition of your $4–6 million financial services practice can now do it with an SBA loan. That's a massive expansion of the qualified buyer pool — and more qualified buyers means more competition for your business, which means better terms for you as a seller.

Approximately 60% of SBA loans in some Florida portfolios are currently tied to business acquisitions. The financing environment has never been more favorable for buyers — which paradoxically makes it one of the best times in recent memory to be a seller.

Who's Buying Financial Services Businesses in South Florida Right Now?

The buyer landscape in 2026 is more diverse than it's ever been. You've got:

National RIA consolidators — firms like Modern Wealth Management (which acquired Plantation-based Legacy Wealth Management in April 2026, a $1.2B AUM firm), Mariner (acquiring Jupiter-based Atlantic Wealth Partners), and Carson Group are all actively expanding their South Florida footprints.

Private equity-backed platforms — PE firms are running aggressive roll-up strategies in insurance, accounting, and wealth management. They're not just buying one firm — they're building regional platforms, and they need anchor acquisitions in markets like Miami, Fort Lauderdale, and Boca Raton.

Strategic individual buyers — corporate executives relocating from the Northeast, experienced financial professionals looking to own their own practice, and international buyers using Miami as a Latin American gateway. This segment is growing fast, fueled by the expanded SBA lending environment.

The competition for quality deals is real. And it's not slowing down.

What This Means If You're Thinking About Selling

If you own a financial services business in Miami, Coral Gables, Aventura, Hollywood, or anywhere in South Florida — and you've been thinking about an exit — the window you're looking at right now is genuinely one of the best in a decade.

But here's the real talk: the best deals don't happen by accident. The Millares acquisition didn't close because someone posted a listing on BizBuySell and waited. It happened because the right buyer found the right seller through the right channels — with proper preparation, clean financials, and a clear story about why the business was worth acquiring.

That's exactly what a good business broker does. Not just list your business — but position it, find the right buyers, and get you to the closing table with a number that reflects what your business is actually worth.

The Bottom Line

Miami's financial services M&A market is running hot, and the data backs it up: record cross-border deal volume, aggressive national buyers, expanded SBA financing, and a retirement wave creating quality supply. If you're a financial services business owner in South Florida, the question isn't whether the market is good — it's whether you're ready to take advantage of it.

At Sun Biz Broker, we specialize in helping financial services business owners across Miami, Fort Lauderdale, Boca Raton, and the broader South Florida market get maximum value for what they've built. Whether you're ready to sell now or just want to understand what your business is worth, let's talk. Visit sunbizbroker.com or reach out today — because in this market, the best opportunities don't wait.