Wealth advisers expect a hike in mergers and acquisitions in their sector, according to a survey by private client manager Investec Wealth & Investment, as baby boomers look to sell their businesses and retire.

The survey, published on November 1, coincides with forecasts of an uptick in M&A in asset management following news of the merger of Janus Capital with Henderson Group on October 3 to create a $320 billion transatlantic firm.