By Hesom Parhizkar, Co Founder of AdvizorPro

Private equity (PE) funding in the registered investment advisor (RIA) market has led to increased consolidation and increased valuations. It will likely continue to reshape the RIA ecosystem for years to come. After reviewing PE firms’ ownership structures in RIA firms and their investment timelines, and knowing that most firms seek to reinvest their capital within five to ten years, AdvizorPro has evaluated thousands of publicly available Form ADVs to identify PE backed RIAs that may be experiencing an investment shift this year.

For a deeper look at how PE is expanding deeper into the RIA ecosystem, see Private Equity Makes a Move Into the RIA Middle Market.

The analysis below is not a prediction of future transactions. It is a compilation of firms that have reached this criteria in their PE journey. Firms were ranked using a composite scoring framework that incorporated their publicly disclosed ownership structure, the PE firm’s duration and how impactful the firm is to retail clients including retirement accounts, individuals and high net worth individuals.

If you want a broader view of PE sponsor coverage and ownership tracking, see Private Equity Ownership in the RIA Space 2025.

Why PE Backing and Hold Timelines Matter for RIAs

One metric for financial advisors to be aware of is the ownership of their firm or the company they’d like to join so they understand its strategic goals and priorities.

 Private equity investments impact that firm, whether it’s the capital infusion itself and the kind of returns that need to generate or as the firm nears completion of that investment and searches for another. Advisors who are currently employed at a firm whose PE backing may be changing should brace for changes potentially in ownership and or available resources.

For those attempting to transition into a firm whose ownership is changing, perhaps wait until that firm’s PE backing has been solidified. Or certainly at least ask about this during interviews to ensure there will be firm footing at the new firm.

This PE transition period is also a notable time for asset managers and service providers as these instances are typically tied to vendor evaluations and platform investments.

And finally, for private equity firms or RIA aggregators, this information shows where consolidation conversations are more likely to occur, although they can be happening in other areas as well.

For a practical framework on evaluating firms using data signals, see The RIA M and A Playbook How to Evaluate Targets Using Data.

As many players from wealthtech providers to aggregators and others watch if and how these situations will unfold, investment shifts will provide a clearer picture of the industry’s dynamics.

AdvizorPro maintains a continuously updated dataset tracking private equity ownership, hold timelines, and retail client exposure across the advisory industry. 

If your team is tracking consolidation, sourcing targets, or preparing for ownership driven change, the key is turning sponsor data into an actionable workflow. 

Start your free trial and access real time intelligence across RIAs, broker dealers, and family offices.

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Deal References and Sponsor Notes

¹ Rockefeller Capital Management

² W1M / Lovell Minnick

³ Osaic / Reverence

⁴ Wealth Enhancement / TA Associates

⁵ Beacon Pointe / KKR

⁶ Hightower / THL

⁷ Mercer Advisors / Oak Hill

⁸ Edelman Financial Engines / Hellman & Friedman

⁹ Lido Advisors / Charlesbank

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