“We've seen two so far, and it feels like something that the industry has been talking about for years,” Turkey Hill Management's Jessica Polito says following the recent Cresset-Monticello and MAI-Evoke Advisors mergers, which could be a sign of future consolidation among large RIAs.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
"A lot of advisors think, I don't want to sell to private equity or join a firm that's PE backed, because those evil private equity people like Edward Lewis are just going to strip my firm, fire my people, reduce all the costs," says Modern Wealth's Jason Gordo. "That's just not the way it works in the RIA community."
Meanwhile, Fifth Third's RIA arm adds a former billion-dollar BNY trio in Boulder, Colorado, while a hybrid RIA opens a new North Carolina location with a former Raymond James-affiliated team.
"It's about connecting with the client and supporting the client and their needs specifically and giving them financial confidence to be able to live out their goals," said Marianne Caswell, president of Park Avenue Securities at Guardian Life.
"That's something we aspire to do, to build out a referral network," Altruist CFO Marc Greenberg told InvestmentNews, though the custodian is currently leaning more on AI and workflow automation to support growth for its 5,100+ advisors.
RIAs like IFC Advisors directly compete against firms like Wells Fargo Advisors for financial advisors.
Firm recruits advisors managing a combined $430 million.
Ares on the dynamics driving the rising interest in sports assets.
Summit Financial unveiled a suite of eight new tools, including AI lead gen and digital marketing software, while MassMutual forges a new partnership with Orion.
The strategic merger of equals with the $27 billion RIA firm in Los Angeles marks what could be the largest unification of the summer 2025 M&A season.
Longtime Commonwealth marketing executive Sarah Howes has been hired to spearhead advisor marketing at Farther, and 16 ex-Commonwealth advisors totaling $1.7 billion AUM are set to follow her to the technology-focused RIA.
The RIA giant's newest C-suite appointee will take charge of its long-term strategic planning as well as its M&A and portfolio consolidation efforts.
Elsewhere, Osaic extended its reach in Knoxville with a former TrustFirst team, while Raymond James scored another win in the war for Commonwealth advisors.
Meanwhile, EP Wealth extended its Southwestern presence with a $370 million women-led firm in Santa Fe, New Mexico.
Google still dominates search, but advisors are shifting to “generative engine optimization” to stay visible on AI search platforms such as ChatGPT.
Third-generation firm leader and managing director at Schechter Investment Advisors shares growth outlook for the RIA space, how he knew it was time to sell, and how his $4 billion RIA benefited from alts leadership.
Private equity exit values and volume are up sharply, but investments in RIAs are taking a different path: “Many PE firms are now structuring proposals that allow RIAs to roll equity into their next fund,” Hue Partners' Emily Blue told InvestmentNews.
Those jumping ship include women advisors and breakaways.
