PFSW + SPDC is a perfect marriage.
They would save so much money in merging the two..at a minimum of $10-15 million of overlap. Problem is not sure PFSW would do it since they are in such better financial shape.
some commonality of fund ownership at the top as well.
PFSW is somewhat growth constrained by their small size. Access to far more capital would be available asa merged entity. Margins improve as well. Need to look at the big picture here.