Transaction Advisory, Investment Management

December 16, 2019

Succession Planning for Investment Management Firms

Succession planning has been an area of increasing focus in the RIA industry, particularly given what many are calling a looming succession crisis. The demographics suggest that increased attention to succession planning is well warranted: a full 62% of RIAs are still led by their founders, and only about a quarter of them have non-founding shareholders. Yet when RIA principals were asked to rank their firm’s top priorities in 2019, developing a succession plan was ranked last. Fortunately, there are many viable options for RIA principals looking to exit the business.

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RIA M&A Update: Q1 2026
RIA M&A Update: Q1 2026
RIA M&A activity in early 2026 remains active but increasingly selective, with private equity continuing to drive competition and valuations. Firms are prioritizing durable growth, strategic fit, and expanded capabilities as the industry shifts toward more sophisticated consolidation strategies.
RIA Market Update: Q1 2026
RIA Market Update: Q1 2026
Publicly traded investment management firms delivered mixed performance in Q1 2026, with broader market declines and significant underperformance among alternative asset managers amid heightened risk aversion. Valuations also showed divergence, as smaller RIAs experienced modest expansion while larger and alternative managers saw notable multiple compression. Overall, results reflect increasing uncertainty in market conditions, with dispersion driven by differences in scale, growth profiles, and fee durability.
Evaluating Buyer Fit in Today’s RIA M&A Market
Evaluating Buyer Fit in Today’s RIA M&A Market
Buyer selection in the RIA M&A market is increasingly about fit, not just valuation. Strategy alignment, leadership depth, organic growth quality, and post-close integration all play a major role in determining whether a transaction creates lasting value.

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