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“The RIA Deal Room,” sponsored by BlackRock, provides unbiased, data-driven insights into the changing M&A landscape, including how acquirers and sellers are getting deals done. The concept behind the study is to provide a more novel, in-depth look at the mechanics underlying RIA M&A transactions and provide information that drives readers to think about M&A strategically. This special research report leverages actual transaction data to highlight the changing dynamics within the RIA M&A landscape and debunks misconceptions of deal mechanics.

What’s inside The 2025 RIA Deal Room report:

• 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.