• The robust M&A activity among independent RIA shops slowed in 2023, but third quarter volume is likely to show a significant uptick in the number of such mergers. The quarter saw 55 deals through mid-September, putting 3Q on track for 70+ deals—the first rise over the prior year’s quarter in 12 months.
• The third quarter may be the RIA market shaking off the year-long decline in mergers. M&A slowed due to economic uncertainty, high interest rates, and stock-market volatility, according to DeVoe & Co.
• Larger RIAs such as Creative Planning, CAPTRUST, and Beacon Pointe will continue to buy smaller shops as scale becomes increasingly important to enable a wider array of services while containing costs. Asset managers need to understand this dynamic to engage clients and prospects in the RIA channel.

Number of RIA Mergers per Quarter

Source: FUSE, DeVoe & Co.