We’re proud to be featured in WealthManagement.com, where our latest SEC-based analysis highlights a major shift in the RIA landscape: private equity is increasingly targeting firms under $1 billion in AUM, signaling a new phase in industry consolidation.

Key Insights

• 81 RIAs under $1 billion AUM are now PE-owned — a 30.6% year-over-year increase
  
  
• Total PE-backed firms grew 16%, from 255 to 295
  
  
• Private equity now controls 23% of all RIA assets above $100 million, despite representing only 3.7% of firms
  
  

These numbers reflect a deliberate move by PE investors to partner earlier with RIAs, capturing value “closer to the origin story.” Our findings are based on SEC Form ADV data covering more than 7,800 firms. The true level of consolidation may be even higher, as fully absorbed entities no longer file individual ADV reports.

Why It Matters

This growing PE presence is reshaping the competitive and strategic landscape for independent RIAs. For firm leaders, the trend underscores the importance of using data intelligence tools like AdvizorPro to monitor market activity, anticipate investor interest, and plan proactively for future growth or acquisition.

For a deeper look into RIA ownership and acquisition activity, explore related insights in the RIA M&A Playbook and the Advisor Demographics Report 2025.

Read the Full Article

WealthManagement.com — “AdvizorPro: Private Equity Making Moves Into RIA Middle Market” by Patrick Donachie (September 4, 2025)

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