Record-breaking M&A Activity in RIA Sector in First Quarter of 2025

RIAs have been experiencing a surge in merger and acquisition activity in the first quarter of 2025, as reported by DeVoe & Company’s analysis. This quarter saw a total of 75 transactions, surpassing the previous record of 68 deals in 2022 and setting a new high for industry activity. The momentum follows the exceptional performance of 2024, with 272 deals recorded throughout the year, marking it as the most active period ever seen in the industry.

David DeVoe, the founder and CEO of DeVoe & Company, commented on the red-hot RIA M&A landscape, noting that recent studies indicate that growth is the primary motivator for sellers, despite some expectations to the contrary. More firms are opting for inorganic growth strategies by leveraging the solutions provided by acquirers to solve the challenges associated with organic growth.

The top reasons cited by RIAs for seeking external sales include growth opportunities, liquidity, and succession planning. Advisors express their interest in joining larger firms due to the benefits of scale, access to advanced technology, and operational support. Private equity and private equity-backed acquirers led the charge, accounting for 72% of all transactions, buoyed by falling interest rates and improved capital accessibility.

DeVoe & Company’s RIA M&A Deal Book boasts over 20 years of experience in tracking and analyzing merger and acquisition trends within the industry. It focuses on deals involving $100 million or more in assets under management (AUM) to ensure the statistical accuracy of its reporting by filtering out entities that do not operate as conventional RIA firms. The report excludes categories such as advisors joining RIAs unless there are significant developments worth noting.

For additional details on the report, interested parties can access more information via the provided link. This latest surge in RIA M&A activity underscores the industry’s robust health and vibrant growth trajectory, driven by factors such as scalability, technological innovation, and operational efficiencies. By embracing strategic acquisitions, RIAs are poised to navigate the evolving financial landscape and seize new opportunities for expansion and development.