2025 Annual RIA M&A Outlook

Thank you for your interest in accessing the 2025 Annual RIA M&A Outlook report.

The report explores advisors’ perspectives on trends in M&A, including the motivations and barriers involved with acquiring or selling. This year’s findings highlight both the durability and the growing complexity of the RIA ecosystem.

Other highlights include:

- Succession reaches a breaking point: Two-thirds of RIA leaders say the lack of succession planning is a major issue, yet only 22% believe their successors can afford to buy them out. The affordability gap continues to widen as valuations climb and equity concentrates with founders.

- Organic growth falters—and becomes the #1 executive concern: 53% of leaders cite organic growth as their top worry. This concern now drives both buyer and seller behavior in M&A, with growth serving as the #1 motivator for 79% of buyers and 49% of sellers.

- Cultural alignment surges to the top: For the first time since launching the DeVoe RIA M&A Outlook Survey, culture is the #1 attribute buyers seek, selected by 69% of acquirers. After years of integration lessons, firms now view culture as the backbone of sustainable growth.

- Tech and AI accelerate a new era of efficiency: 80% of advisors believe AI will positively impact the industry, with the majority expecting meaningful improvements in advisor efficiency and client experience.

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