RIA Aggregation and Wealth Management
The RIA (registered investment advisor) aggregation space covers private-equity-backed roll-ups and multi-custodial wealth management platforms — including national aggregators, turnkey asset management platforms (TAMPs), and broker-dealer-to-RIA conversion models — that consolidate independent advisory practices. Deal activity centers on minority and majority recapitalizations, tuck-in acquisitions of smaller practices, sponsor-to-sponsor secondaries, and succession transactions for aging founder-advisors.
“registered investment advisor aggregation and wealth management platforms, and the advisors behind RIA consolidation”
That sentence was the entire instruction. Everything on this page was researched from it and then verified against public sources: 19 experts kept, 0 dropped in verification.
Experts
Grouped by archetype · searchableFounder / Operator
4Mike Capelle
Co-founder and Co-CEO
Modern Wealth Management
Serial RIA-platform builder who took United Capital to a $750M Goldman exit and is now running Modern Wealth's PE-backed roll-up playbook in real time.
Gary Roth
Co-founder and Co-CEO
Modern Wealth Management
Co-CEO who scaled United Capital to a $750M Goldman exit and is now running Crestview-backed Modern Wealth's 18-deal RIA roll-up — a live playbook for aggregation-model diligence.
Matt Fleissig
CEO and Co-founder
Pathstone
Fleissig has led Pathstone's roll-up strategy through billion-dollar mergers (Hall Capital, Crestone, Mill Creek) to $100B+ AUM — a first-hand read on RIA consolidation deal terms and integration risk.
Ron Carson
Founder and Chairman
Carson Group
Built a $1B+ RIA aggregation platform from scratch and just handed CEO reins to a growth operator — a live case study for anyone underwriting RIA roll-ups or founder-to-professional-management transitions.
Strategic Advisor
6Lori Hardwick
Board Member and Strategic Advisor
Orion Advisor Solutions, Cetera Financial Group, Cerity Partners, Docupace, Vestwell; Strategic Advisor to Genstar Capital
She sits on the boards of Orion, Cetera, Cerity, Docupace, and Vestwell while advising Genstar Capital, giving her a rare cross-cutting view of RIA-aggregation deal flow and platform economics.
Penny Phillips
Founder and Strategic Consultant
Thrivos Consulting; Co-Founder and President of Journey Strategic Wealth
Built and sold a $5B RIA rollup to Hightower in 2026; now shapes advisor strategy for a $25B+ platform and sees RIA M&A deal flow firsthand.
Ryan Kaminski
Co-Head of Mergers and Acquisitions
Green Sail Capital Partners
Co-Head of M&A at Green Sail, a boutique RIA/broker-dealer advisory shop; he's publicly warning valuations are peaking — a contrarian read deal teams should stress-test against.
Christopher Gent
Co-Founder and M&A Advisor
Green Sail Capital Partners
Co-founder of an RIA M&A boutique built from LPL's top deal team, now publicly warning 7-18x EBITDA multiples are unsustainable — a contrarian pricing check for any RIA aggregation thesis.
Bryon Lake
Global Co-Head Third Party Wealth, Board Member
Goldman Sachs Asset Management; Board Member GeoWealth
As GSAM's third-party wealth chief and a new GeoWealth board member, he sits at the center of Goldman's RIA custody and distribution strategy.
Eric Clarke
Founder and Strategic Advisor
Orion Advisor Solutions (Founder); Board Member at Elevation Point
Founder of Orion Advisor Solutions and now a McKinsey advisor and multi-board RIA-tech operator, Clarke has first-hand insight into where wealthtech consolidation and capital are heading next.
Investment Banker
5David DeVoe
Founder and CEO
DeVoe & Company
As founder of the industry's leading RIA M&A bank and data source, DeVoe sees nearly every major wealth-management deal before it's public.
Scott Wetzel
Co-Founder & CEO
SkyView Partners
Wetzel built the dominant specialty lender to the RIA space, giving him a real-time view of deal pricing, leverage terms, and lender appetite across the entire RIA M&A market.
Cameron Hoerner
Managing Director, Asset & Wealth Management Investment Banking
Piper Sandler
A decade-plus RIA/asset-management M&A banker at Piper Sandler who is actively advising on live nine-figure RIA capital raises and shaping how the market reads 2026 deal flow.
Bomy Hagopian
Partner & Head of Wealth Management Advisory
Berkshire Global Advisors
Hagopian leads Berkshire Global Advisors' wealth management M&A practice and has personally advised on more than 20 RIA and OCIO deals since 2021.
R. Bruce Cameron
Co-Founder & Partner
Berkshire Global Advisors
As CEO of the top RIA-and-asset-manager M&A bank, Cameron sees nearly every roll-up and succession deal in wealth management before the broader market does.
Legal / Service Provider
4Christopher C. Frieden
Partner and Chair of Partners Committee
Alston & Bird LLP
Atlanta's go-to RIA M&A lawyer, having steered 175+ wealth management deals worth $7B+ since 2020 — a direct line into active RIA consolidation activity.
Shirl Penney
Founder and Chief Executive Officer
Dynasty Financial Partners
Penney sits at the center of nearly every major RIA breakaway and platform financing deal, giving him unmatched visibility into wealth-management M&A flow and valuations.
Rajini Kodialam
Co-founder and Chief Operating Officer
Focus Financial Partners
Co-founded and scaled Focus Financial from zero to a $7B RIA aggregation platform, giving her an unmatched network of RIA principals and M&A playbooks.
Marty Bicknell
Co-founder and Chief Executive Officer
Mariner Wealth Advisors
As Mariner's founder-CEO he has personally negotiated its largest M&A deals, giving him firsthand insight into RIA aggregation economics, integration and valuation.
Companies
Ranked by edge depthBain Capital
Leading global private investment firm with $225 billion AUM founded 1984, headquartered in Boston with 1,950+ employees investing across private equity, venture, credit, and real assets with deep vertical expertise.
Piper Sandler
Investment bank founded 1895 with 60+ offices globally providing M&A advisory, capital raising, public finance, and institutional services across healthcare and other sectors.
LPL Financial
Leading independent broker-dealer and advisory services platform with $1.1 trillion in assets served, providing technology, trading, compliance, and support services to independent financial advisors.
Modern Wealth Management
National RIA co-founded in 2023 by Mike Capelle, Gary Roth, and Jason Gordo. Provides integrated wealth management including financial planning, tax strategies, estate planning, and insurance. Backed by $200M from Crestview Partners.
Crestview Partners
Middle-market PE firm founded 2004, based in New York. Manages $9B+ in AUM. Focuses on LBO, growth equity, and distressed-for-control investments across financial services, media, and industrials.
Green Sail Capital Partners
Boutique M&A advisory firm founded in 2023, specializing in sell-side transactions and valuations for RIA and broker-dealer firms seeking to maximize transaction value.
Orion Advisor Solutions
WealthTech platform founded 1999, headquartered in Omaha, Nebraska. Serves advisors and institutions with CRM, portfolio accounting, trading, compliance, and AI. Genstar Capital co-invested alongside existing investors.
Pinnacle Wealth Management
Independent RIA founded in 1994, managing client assets for high-net-worth individuals and families with focus on personalized financial strategies and comprehensive planning.
Abry Partners
Boston-based private equity firm with $13.7 billion in assets under management, specializing in middle-market investments in technology, media, and financial services sectors.
AndCo Consulting
Independent institutional investment and retirement plan consulting firm founded in 2000, serving 690+ institutional clients with ~$100B in assets under advisement across defined benefit/contribution plans and endowments.
Berkshire Global Advisors
Independent investment banking firm established in 1983, specializing in M&A advisory for the financial services sector including wealth managers, asset managers, and fintech firms. Led by Co-founder Bruce Cameron as Partner & CEO.
Bingham, Osborn & Scarborough
Independent wealth management firm established 1985 in San Francisco serving HNW individuals and institutions with fee-only advisory model. Merged with Cerity Partners November 2021 creating $40B combined wealth management platform.
CAPTRUST Financial Advisors
One of the largest independent RIAs ranked #1 for 11 consecutive years, managing over $1 trillion in assets with comprehensive wealth, retirement plan advisory, and specialty services for institutional clients.
Cardinal Investment Advisors
Institutional investment consulting firm founded in 2001, specializing in customized advisory for insurance companies, corporate retirement plans, and tax-exempt entities with $292B AUA before acquisition.
Carson Group
Registered investment advisor founded in 1983 by Ron Carson, providing technology, coaching, and partnership services to financial advisors with approximately $50 billion in assets under management across Carson Wealth, Carson Coaching, and Carson Partners.
Cetera Financial Group
Advisor affiliation hub founded 2010, headquartered in San Diego. Home to 12,000+ financial professionals managing $640B+ AUA and $294B AUM. Majority-owned by Genstar Capital since inception.
Charles Schwab Advisor Services
Provides custody, trading, technology, and comprehensive support services to independent Registered Investment Advisors (RIAs) with over $1.2 trillion in assets under management across 7,500+ advisors.
Charles Schwab Corporation
Major financial services company providing brokerage, custodial services, trading platforms, and advisory solutions to independent advisors and institutional clients.
Columbia Pacific Wealth Management
Independent wealth management firm founded 2011 serving high-net-worth individuals with comprehensive financial planning and portfolio management on West Coast. Acquired by CI Financial in December 2021 with $6.4B AUM.
Crestone Capital LLC
Independent multi-family office founded in 1991 with 30+ years of boutique advisory experience, managing ~$3.6B AUM for entrepreneurs and families across offices in Boulder, Denver, Austin, and Los Angeles.
DeVoe & Company
San Francisco-based RIA M&A advisory and consulting firm founded 2011 by David DeVoe. Provides business strategy, M&A advisory, succession planning, and valuations for wealth management firms. Noted as 'RIA M&A Guru' by Barron's.
Docupace
Cloud-based operations and compliance software for wealth management firms, established 20+ years. Provides document management, workflow automation, client onboarding, and advisor transition tools. Acquired jaccomo in 2021.
Dynasty Financial Partners
RIA platform provider and investment bank serving independent wealth advisors with technology, investment management, consulting, and M&A services supporting $110+ billion in client assets across 55 firms.
E-3 Tech
Venture/PE hybrid backed by Andreessen Horowitz, founded in 2024, that invests in growth-stage service companies using AI-driven technologies and programmatic M&A to build platforms in high-growth verticals.
Show 33 more single-connection companies
Eagle Ridge Investment Management
Privately owned investment adviser founded in 2008, managing $1.3 billion in assets with expertise in large and mid-cap equity strategies; acquired by Carnegie Investment Counsel in February 2025.
Elevation Point
Growth-oriented RIA platform founded by Jim Dickson (former Sanctuary Wealth CEO) and Mark Penske. Provides strategic investments, integrated technology, and operational support to independent advisors with $3.4B AUM across 8 partner firms.
Focus Financial Partners
Network of independently operated wealth management firms providing integrated wealth management, family office, and business management solutions across the U.S., managing $500B+ in advised assets.
Genstar Capital
Middle-market PE firm founded 1988, headquartered in San Francisco. Manages $35B+ in AUM. Invests $50-400M equity per deal in financial services, healthcare, industrial, and software sectors. Registered Investment Adviser.
GeoWealth
Tech-enabled turnkey asset management platform (TAMP) serving approximately 1,000 independent advisors with $18B in platform assets. Provides integrated advisory solutions including CRM, portfolio construction, monitoring, and rebalancing.
Goldman Sachs Personal Financial Management
United Capital rebranded under Goldman Sachs following 2019 acquisition for $750M. Offered wealth advisory and financial planning for mass affluent to high-net-worth individuals ($1M-$15M+). Divested to Creative Planning in 2023.
Grand Avenue Capital Partners
Investment banking firm providing merger and acquisition advisory, valuations, and strategic consulting services to middle-market companies in North America with revenues $10-150 million.
HF2 Financial Management / ZAIS Group Holdings
Investment management firm founded in 1997 and publicly listed through HF2's acquisition, focused on specialized credit investment strategies with approximately $5 billion in assets under management as of 2014.
Hall Capital Partners
Independent investment advisor founded in 1994 serving families, endowments, and foundations with $40B+ in assets, pioneering Full Consequence Investing principles emphasizing ESG alongside financial returns.
Hamachi.ai
AI-powered wealth management communication and compliance platform launched October 2025. Generates compliant, AI-drafted client emails with inline SEC/FINRA compliance checking; integrates with Outlook, Gmail, and APIs for advisor workflow optimization.
Highbury Financial Inc.
Investment management holding company founded in 1993, providing wealth management and advisory services; acquired by Affiliated Managers Group in April 2010 for $30.6 million.
Homrich Berg
National independent, fee-only wealth management firm managing $25 billion in assets across 12 offices, serving individuals and families with investment management and financial planning services since 1989.
Invesco (PowerShares)
Subsidiary of Invesco managing a family of 120+ exchange-traded funds (ETFs) headquartered in Chicago area. Pioneered quantitative index-based ETF strategy with products including PowerShares QQQ.
J.P. Morgan Asset Management
Major asset management division of JPMorgan Chase managing over $4 trillion in AUM globally. Offers 250+ investment strategies spanning all asset classes with investment professionals in every major market.
Journey Strategic Wealth
Registered Investment Adviser founded in 2021 managing approximately $5 billion in assets, providing independent advisors with comprehensive practice management support, investment infrastructure, and operations services.
Kaye Capital Management
Fee-only RIA based in El Segundo, California managing over $700 million in assets, serving high-net-worth individuals, executives, and institutional clients with investment management and retirement planning.
Locorr
Alternative investments provider offering low-correlating mutual funds and strategies designed to provide portfolio diversification independent of traditional stocks and bonds.
Mariner Wealth Advisors
One of the largest independent RIAs founded in 2006, now managing $100B+ under management, providing comprehensive wealth planning, investment management, and institutional advisory services.
Mill Creek Capital Advisors
Independent RIA founded in 2006 serving families and institutions with ~$12B AUM, emphasizing liquidity-centered investment strategies and access to alternative assets across private credit and infrastructure.
NEPC
Employee-owned investment consulting firm founded 1986 serving 400+ clients with $1.5 trillion+ AUM across 7 offices. Provides research-driven institutional investment advisory with focus on governance and fiduciary excellence.
OpenArc Corporate Advisory
Independent RIA managing $129 billion in assets, providing corporate benefits advisory and family wealth management services to employers, executives, and high-net-worth families.
Parallel Advisors
SEC-registered independent wealth management firm managing $11 billion in assets across 14 offices, offering fiduciary investment management, family office, trust, and estate planning services.
Pathstone
Partner-owned wealth management and family office firm serving ultra-high net worth families, now operating 23+ offices with $100B+ AUA after acquiring Crestone, Hall, and Mill Creek.
Principal Financial Group
Diversified financial services company offering insurance, investment products, retirement solutions, and wealth management services to institutional and individual clients.
SkyView Partners
Financing and investment banking firm focused exclusively on independent and registered investment advisors, providing acquisition loans, succession financing, M&A advisory, and banking services.
Steward Partners Global Advisory
Employee-owned full-service wealth management firm serving family, institutional, and multigenerational investors across 20 offices with $44B+ in client assets, founded in 2013.
TaxStatus
IRS account monitoring and advice personalization platform for financial professionals. Delivers 3,000+ IRS data points per taxpayer with direct IRS connection; recently launched Tax Prep Checklist and Tax Return History tools for advisor workflows.
Thorofare Capital
National vertically-integrated commercial real estate debt manager founded 2010 originating $15M-$100M loans. Has originated $5.2B+ across 34 states and 13+ property types; acquired by Callodine Group December 2021.
Thrivos Consulting
Practice management consulting and coaching firm specializing in helping financial advisors and RIA firms navigate industry change through leadership coaching, strategic consulting, and behavioral transformation.
Total Wealth Planning
Fee-only wealth advisory firm founded in 1989, providing comprehensive financial planning and investment management for individuals, families, and business owners with $1.45 billion in assets under management; acquired by Carson Group on November 18, 2025.
United Capital
Former independent RIA founded by Joe Duran, grew to $25B AUM with 220+ advisors across 90+ offices through 90+ acquisitions. Acquired by Goldman Sachs in 2019 for $750M and rebranded as Goldman Sachs Personal Financial Management.
United Capital Financial Partners
Registered investment advisor managing approximately $22 billion in assets across 85 affiliated firms, now subsidiary of mega-RIA Creative Planning; provides wealth management and investment services.
Wealth Enhancement Group
Minnesota-based Mega RIA (#7 by Barron's 2025) managing ~$160B in client assets. Offers retirement planning, investment management, tax strategies, estate planning on team-based 'Roundtable' model. Active acquirer with 22+ deals in 2026.