10.29.25

With 2 Months To Go, RIA Deals Set New Full-Year Record

by: Michael S. Fischer

Registered investment advisor (RIA) mergers and acquisitions (M&A) hit a record high in 2025, with 273 completed deals as of Oct. 28, surpassing last year’s total of 272, according to DeVoe & Co. The third quarter was the busiest ever, with 94 transactions. DeVoe attributed the surge to lower borrowing costs, private equity-backed consolidation and mid-size firms seeking scale through mergers. Nearly half of all deals involved consolidators. DeVoe said M&A has become a permanent growth strategy and defining feature of the RIA industry.

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