DEVOE RIA DEAL BOOK™ - Q2 2026

Thank you for your interest in our Q2 2026 DeVoe RIA Deal Book™. This report is designed to help you stay informed and proactive in today’s evolving M&A environment.

Highlights from this quarter's Deal Book:‍‍

• Record First Half Despite Second Quarter Slowdown: The RIA industry announced 167 transactions through June, the strongest first half on record and 13% above the previous high set in 2025. While second-quarter activity moderated to 74 transactions, it remained essentially flat with Q2 2025 at 73 transactions.
• Consolidators Expect Valuations to Remain Unchanged: According to DeVoe & Company’s latest Consolidator Survey, 82% of buyers expect valuations to remain unchanged over the next six months, while 18% expect them to decline. No respondents expect valuations to increase.
• Larger RIAs Remain Buyers' Top Target: Nearly half (46%) of Consolidators identified firms between $1B and $5B in AUM as their preferred acquisition target, reinforcing the industry's continued move upmarket.
• Consolidators Reclaim the Lead: Consolidators accounted for 50% of all announced transactions in the first half of 2026, reclaiming the largest share of the market, while RIA buyers remained highly active with a record 52 acquisitions and 31% market share.
• Mega Sellers Continue Their Rise: Firms with more than $5B in AUM announced 30 transactions through the first half of 2026, already just six transactions shy of last year’s record full-year total. Small sellers, meanwhile, fell to one of their lowest shares on record at 36%.

To explore these findings and other topics, please share a few details to download your copy of the Deal Book.