Get the RIA Deal Room Report

“The RIA Deal Room,” sponsored by BlackRock, delivers unbiased, data-driven insights into the rapidly evolving M&A landscape—helping buyers and sellers navigate an increasingly crowded marketplace. Now in its seventh year, it remains the only industry report to provide an in-depth analysis of the mechanics behind RIA M&A transactions, cutting through the noise of headline deals. Leveraging actual transaction data and case studies, this report offers the most up-to-date look at buyer preferences, shifting deal dynamics, and broader market sentiment through RIA survey data.

Findings from the 2025 RIA Deal Room report include:

• Large Firms Are Most Desired, but Target Market Expands – A saturated buyer pool means shifts in size segments and competition for RIAs with less than $1B intensified.
• Deal Structures Mandate Growth – Earnouts and performance-based structures are the norm, placing pressure on sellers to demonstrate sustained growth even after closing. Finding a partner with proven execution capabilities is critical to maximizing valuation.
• Integration Is the Prevailing Path – The most active acquirers are now “single-brand” integrators, prioritizing long-term value creation over fragmented ownership.
• Race to Build the Next Platform – More capital is available for RIAs looking to build scale, but the path to sustainability is more challenging.  Those seeking capital must evaluate trade-offs and have a clear purpose—minority investment doesn’t always mean minority control.