The Rise of RIA Aggregators: How They’re Dominating Deals & Reshaping Allocations

September 15, 2025

Why RIA Aggregators Are Reshaping Fundraising: 2025 Private Equity & Wealth Trends

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If you’re raising capital in today’s market, you can’t afford to ignore RIA aggregators. What started as a handful of firms has exploded into a wave of consolidation that’s reshaping how wealth management firms allocate billions.

In early 2025, RIA aggregators, particularly those backed by private equity, were responsible for 51% of all RIA acquisition activity, making them the dominant buyer type in the space (source).

In August 2025 alone, dakota tracked 26 announced RIA deals totaling $40.9B in acquired AUM and that’s just one month. Add in institutional AUA tied to these firms, and the real influence is even larger.

These platforms include names like Sanctuary Wealth, Wealthspire, Mariner, Corient, MAI Capital, and Sequoia. They are fundamentally changing the fundraising landscape.

In this article, we’ll break down how RIA aggregators are dominating acquisition activity, reshaping the allocation landscape, and why they’ve become a critical channel for fundraisers. By the end, you’ll understand how to identify the right platforms, navigate their centralized decision-making, and use Dakota Marketplace to gain a competitive edge.

Why Aggregators Matter

Scale at speed: Aggregators can bring billions in AUM under one roof, making them a major allocator to outside investment strategies.
Centralized influence: Allocations are increasingly shaped at the home-office level, making the right aggregator relationship a multiplier across hundreds of advisors.
Private equity backing: Private equity is fueling rapid growth, accelerating the buying spree.
Future direction: Aggregators aren’t slowing down. They’re moving into institutional consulting, retirement plans, and multi-generational wealth.

The Dakota Advantage

The challenge is visibility. Aggregators don’t always present themselves clearly. They can be mislabeled as multi-family offices, hybrids, or traditional RIAs. Without clarity, it’s easy to miss them.

dakota marketplace solves this:

Accurate tagging of RIA aggregators across the market.
Daily-verified contacts at both the home office and advisor team level.
Complete coverage, from billion-dollar national platforms to fast-growing regional players.

What This Means for Fundraisers

Bigger TAM: Aggregators are one of the fastest-growing allocator segments in the U.S.
Faster targeting: Know exactly which decision makers are driving allocations.
First-mover advantage: As consolidation continues, the firms that establish relationships now will have the inside track.
Private equity backing: Private equity is fueling rapid growth, accelerating the buying spree. This surge in deal activity has made RIA aggregators the most active acquirers in the industry, responsible for over half of all RIA M&A in early 2025.

Built by Fundraisers, for Fundraisers

At dakota, we’ve been in your shoes. We know how frustrating it can be to chase the wrong contact or miss a platform that’s quietly influencing billions in allocations. That’s why we’ve built RIA aggregator coverage directly into dakota marketplace, so you have the clarity and speed to focus on what matters most: building relationships.

Want to see how dakota marketplace helps you navigate the rise of RIA aggregators? Book a demo and stay ahead of the fastest-growing channel in fundraising.