The RIA industry is increasingly becoming private equity’s world, and we’re all just living in it. 

In what will be a record-breaking year for mergers and acquisitions in the registered investment advisor space, PE firms did more than just make a splash: they dominated the market. 

From PE-backed strategic acquirers like Wealth Enhancement Group and Mercer Advisors to the firms themselves, these mega-billion-dollar businesses firmly set their sights on the wealth management industry. 

In fact, according to DeVoe & Company, the number of M&A deals surpassed 2024’s total in October, with two full months left in the year to set a new record. 

What’s driving PE to RIAs? High valuations and an aging advisor force are leading sellers to look toward the exits, with Gen 2 employees themselves expressing frustration over job growth opportunities. 

It was a busy year, no doubt, so check out this curated list of articles focused on RIA M&A over the course of 2025.