Echelon Partners: Q3 RIA M&A Activity Steady, ‘24 Deal Volume to Surpass ‘23

With 74 deals in the third quarter, RIA M&A transaction volume was essentially flat with the prior quarter, but total transactions are expected to surpass those of 2023, boutique investment bank Echelon Partners said in its latest quarterly RIA M&A deal report. 

Strategic acquirers, primarily private equity-backed RIAs, accounted for 85.1% of the deals in the quarter, while financial acquirers made up the remaining 14.9%, Echelon said. The firm flagged The Colony Group's acquisitions of Gratus Capital and HoyleCohen, as well as Corient's acquisition of the $7B AUM Emerald Family Office, as notable deals in the quarter.

The report also highlighted a surge in “WealthTech” transactions, with over 50 deals announced, reflecting the growing interest in technology solutions within the wealth management sector. Private equity's role remains strong, with 33 direct investments and a notable trend toward minority stakes as firms seek to enhance their service offerings.

With 241 transactions year to date in 2024, Echelon projects a total of 330 transactions for the full year, indicating sustained interest and activity in the sector and a slight uptick from the 321 deals it tracked in 2023.

Access the report here.

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Written By: Dakota

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