This is Colonnade’s first M&A Update focused on the Registered Investment Advisor (RIA) industry, which is experiencing an era of transformative consolidation. In June 2025, there were 23 transactions completed, underscoring the strong deal momentum across the sector. Buyers are pursuing acquisitions not only to gain geographic reach, but also to expand their advisory capabilities, achieve operational scale, and address the succession planning needs of aging firm owners. As mid-sized platforms and private equity-backed integrators continue to deploy strategic capital, the RIA landscape is rapidly evolving, creating new opportunities for firms seeking growth, liquidity, and long-term sustainability.