Registered investment advisor (RIA) M&A activity surged in 2025, with total transactions rising 27.3% year over year, according to Echelon Partners’ latest report. Growth was driven by repeat acquirers, private equity-backed deals, and increased recapitalizations, signaling a structural shift in wealth management consolidation. While mega-deals involving firms with over $1 billion in assets gained attention, smaller RIAs accounted for more than half of total transactions, highlighting strong demand for scalable acquisitions. Strategic buyers are increasingly targeting firms to expand capabilities in tax, trust, and specialized investment services, strengthening client relationships and boosting long-term growth. Minority investments and private equity funding continue to provide liquidity and capital flexibility, particularly for larger platforms. As competition intensifies, firms are prioritizing scale, technology, and talent through acquisitions. With new investors entering the market and buyer demand rising, RIA M&A activity is expected to remain strong and highly competitive in 2026…