RIA M&A Activity Hits 228 Deals YTD

RIA M&A is up 46% this year. Through September 2025, 228 RIA transactions were announced—representing over $404 billion in AUM changing hands. That’s a 46% increase in deal count compared to the same period last year.

What’s driving it?

• PE-backed platforms remain active consolidators
• Smaller firms see M&A as a succession plan
• Acquirers in the $20–$100B AUM range are fueling much of the growth

RIA consolidation isn’t slowing—it’s accelerating.

See the full breakdown in Colonnade’s September 2025 whitepaper.