Q4 2025 DeVoe RIA Deal Book™
2025 Delivers the Most Active Year in RIA M&A History
Thank you for your interest in our Q4 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.
Highlights from this quarter's Deal Book:
RIA M&A Sets a New All-Time Annual Record: 2025 closed with 322 announced transactions, surpassing the prior record of 272 deals set in 2024 and marking the most active year in the history of RIA M&A.
Buyer Pool Contracts Despite Higher Deal Volume: There were 22 fewer active buyers in 2025 compared to 2024, even as total transaction volume increased, driving higher transactions per buyer and greater concentration among experienced acquirers.
First-Time Buyer Activity Falls to 8%: First-time buyers accounted for just 8% of transactions, one of the lowest levels recorded, underscoring the growing advantage of established acquirers.
Large and Mid-Sized RIAs Drive Seller Activity: Firms with $500MM-$5B in AUM represented 51% of all seller transactions.
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