11.07.25

Billion-Dollar RIAs Prioritize Organic Growth

by: Leo Almazora

Billion-dollar registered investment advisors (RIAs) are shifting focus from mergers and acquisitions (M&A) to organic growth, according to Cerulli Associates. Despite rapid industry expansion — with RIA assets up 16.4% in 2024 and advisor headcount up 6.7% — firms face challenges in client acquisition and advisor time constraints. Referrals remain the top growth driver, though many firms are investing in broader marketing strategies. Sixty-seven percent of billion-dollar RIAs now prioritize organic growth over M&A, and many are leveraging data and AI for efficiency. Succession remains a concern, with one-third of RIAs planning retirement within a decade and uncertain transition plans ahead.

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