Business Transformation | 10.15.26

RIA M&A Drops 17% in Q3 as Mega Sellers Set New Record

by: Leo Almazora

Registered investment advisor (RIA) mergers and acquisitions (M&A) fell 17% year over year in the third quarter of 2026, with 77 transactions, ending seven consecutive quarters of record activity, according to DeVoe & Company. However, year-to-date deals reached 244, slightly ahead of 2025’s record pace. Market volatility and economic uncertainty prompted smaller, founder-led firms to delay sales, while mega sellers with more than $5 billion in assets recorded a new annual high of 41 transactions. Consolidators accounted for 53% of deals through September. Despite the slowdown, DeVoe expects activity to rebound, driven by succession needs, scale advantages and well-capitalized buyers.

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