Industry News
Echelon: 2024 deal volume breaks records as assets per deal dips
Sam Bojarski / Mar 12, 2025
Echelon recorded 366 transactions in the wealth management space last year, even as average assets per deal dipped from $1.7bn to $1.4bn since 2023.
Wealth managers last year completed a record 366 M&A transactions, even as average assets per deal fell slightly year-over-year to $1.4bn, according to an RIA deal report from investment bank Echelon Partners.
The former figure represents an all-time high for the RIA industry and was driven by the 125 deals announced in the fourth quarter, which itself was an all-time quarterly high. This compared to 99 deals in Q4 of 2021, the second-highest quarter in terms of volume.
At the same time, Echelon reported that average assets per deal in 2024 dipped to its lowest level since 2018, due to a large share of smaller transactions and a decline in the number of deals in the $10bn to $20bn range of assets under management.
Overall however, purchases of RIAs with $1bn or more in assets grew by more than 20% since 2023. This trend was driven by competition from strategic acquirers and rising interest from well-capitalized minority investors, who themselves are likely to stake firms with significant...
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