AUM is not revenue. Diledge tests the fee waterfall, advisor concentration and client retention that determine what an RIA book is really worth.
The same AUM can produce very different revenue, and the same revenue can hide growth or runoff. Diledge reveals true book growth, advisor performance, and account-level revenue — so you can underwrite what the book will earn and where it's headed.
Run-rate revenue recomputed from current AUM through each client's contracted tier — never a quarter annualized four times.
Book concentration by advisor, with modelled departure scenarios and the revenue actually at risk.
Household size, tenure, age profile and attrition — the drivers of whether the book compounds or decays.
Growth separated into market movement, net new assets and acquisitions, so the multiple is applied to the right number.
End-of-period AUM and the latest quarterly billing do not tell the full story. We calculate what the book will actually bill on a run-rate basis.
How much of the book sits with each advisor, and what leaves if they do. Key-person risk is the single largest value driver in most RIA deals.
Neither advisor is subject to a non-solicit that survives a change of control. Retention terms should be agreed before signing rather than at close.
Opening to closing AUM separated into market movement, net new assets, outflows and acquisitions — so organic growth is visible rather than assumed.
Attrition by tenure, household size and age band — the tests that separate a book that compounds from one that is quietly running off.