Registered Investment Advisor

If you own an RIA and have thought about an exit, the market just set a new record — 322 transactions in 2025, an 18% increase over the prior year. Private equity-backed consolidators are accelerating, and midsized firms are squarely in the crosshairs.

This edition of Industry Insights breaks down the RIA M&A landscape and what drives premium valuations for advisors considering a transition.

Inside the analysis:

• Why AUM size, client age demographics, and revenue concentration are among the most consequential valuation factors buyers evaluate
• How fee structure and revenue mix — commissions versus pure AUM or subscription models — affect where you land in the multiple range
• What organic net new asset growth rates and workforce tenure signal to buyers about the long-term durability of your firm
• Why all-cash deals are increasingly rare and what rollover equity means for how you structure your exit

Download the full industry insights report to learn more.