DEVOE RIA DEAL BOOK™ - Q2 2025
A Record-Breaking First Half for RIA M&A
Thank you for your interest in our Q2 2025 DeVoe RIA Deal Book™ brought to you by Capital Group. This report is designed to help you stay informed and proactive in today’s evolving M&A environment.
Published on
Jun 1, 2025
Highlights from this quarter's Deal Book:
- Best First Half on Record: With 148 transactions, the first half of 2025 is officially the most active January-June period in RIA M&A history.
- Momentum Holds Amid Market Uncertainty: Despite equity volatility, interest rate swings and geopolitical uncertainty, RIA M&A continues to defy historical norms with three consecutive 70+ transaction quarters.
- Consolidators Reclaim the Driver’s Seat: Buyers with acquisition-led business models surged with 53% of transactions, their highest level since 2021.
- Pipelines Increase, Valuations Steady: Top consolidators report expanding pipelines, strong appetite, and stable valuations—signs of continued confidence heading into the second half.
- Mid-Sized and Large Sellers Step Up: Firms managing $501M to $5B in AUM represented over half of all sellers, helping push average seller size to $1.075B, the second highest on record.
To explore these findings and other topics, please share a few details below to download your copy of the Deal Book.
