The RIA M&A landscape continues to evolve rapidly, driven by a confluence of structural tailwinds, generational transitions, and macroeconomic shifts. Lower interest rates have reignited buyer appetite, fueling record-level deal activity and pushing the market deeper into the sub–$1B AUM segment. Meanwhile, mid-sized acquirers are stepping into leadership roles, reshaping competitive dynamics and accelerating consolidation through strategic, scalable tuck-ins.