10.14.25

RIA M&A Hits Another High-Water Mark in Q3

by: Ali Hibbs

The third quarter of 2025 set a new record for registered investment advisor (RIA) mergers and acquisitions with 125 deals announced, according to Echelon Partners, up 69% from the same period last year. The figure matches the all-time quarterly record set in the fourth quarter last year and pushes the year’s total to 345 transactions, surpassing the 2022 full-year record. Echelon expects around 440 deals by year-end. Private equity backs 75% of the strategic acquirers, driving much of the activity. Average deal size slightly normalized at $1.5 billion, focusing more on mid-sized firms.

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