01.21.26

RIA M&A Smashes Deal Record in 2025 Despite Shrinking Buyer Pool

by: Andrew Cohen

Registered investment advisor (RIA) merger and acquisition activity hit a record in 2025, with 322 announced transactions, up 18% from 2024, according to DeVoe & Company. While seller activity increased, the buyer pool shrank, concentrating power among a small group of private equity–backed firms. Larger RIAs dominated transactions as deals involving firms under $500 million in assets under management declined. Industry leaders expect consolidation to accelerate in 2026 as earlier private equity investments reach exit timelines, driving further ownership changes across major advisory platforms.

Read the full article on InvestmentNews