M&A is surging ahead into 2026, but the ground is shifting for buyers and sellers, who will need to keep pace in order to make the right deals. DeVoe reported that while the number of sellers and deals is up, the number of new buyers fell. Peter Brown expects the M&A landscape will become more disciplined as players look beyond immediate deals to long-term results. It’s an active market, but it’s not the 2025 market.
2026 M&A Outlook: A More Disciplined, More Active Landscape
Peter Brown of Moneta presents his outlook for M&A this year, predicting a year of more discipline and long-term strategy.
Brown says succession and scale are driving M&A activity while valuations have plateaued and are holding steady. He gives three steps for sellers to maximize value.
Cerulli: Asset Managers Face Competing Demands Across Products And Asset Classes
According to a recently released Cerulli report, asset managers are developing products to meet demands in separate managed accounts (SMAs), tokenization, dual-share-class ETFs, tax-optimization and more.
The report noted strong growth in SMAs and direct indexing.
DeVoe: 2025 Was The Most Active RIA M&A Year Ever, But The Number Of Buyers Shrank
DeVoe & Company’s RIA Deal Book for 4Q 2025 reveals there were more transactions in the sector last year than ever before, with the number coming in at a whopping 322, up 18% from 2024’s 272.
But, while the number of sellers grew 18%, the number of buyers dropped 19%, said David DeVoe.
Guide To Industry Conferences: Wealthtech
This year’s Wealthtech installment to WSR’s annual Guide to Industry Conferences series highlights leading wealthtech conferences, including Orion Ascent, the T3 Technology Conference, Wealthstack, Future Proof’s Festival and Citywide, the Nitrogen Fearless Investing Summit and Envestnet Elevate.
AI is rising in importance across multiple conferences.
The Future Of Independence Is Being Shaped Today
Amy Webber of Cambridge Investment Research shares views on the future of independence.
She argues that independence isn’t singularly defined, especially in light of the Next Gen, and the industry must embrace varying and new form of independence.
Deals & Recruiting Roundup
This week’s roundup covers acquisitions by Choreo, Cetera, Allworth and Modern Wealth; DeVoe’s M&A report; recruiting by RBC and Alluvial; Ascentis’ launch; LPL’s partnership with Wealth.com; and appointments by Collaborative Capital, Oppenheimer and the CFP Board.
LPL’s 32,000 advisors are a huge win for Wealth.com as estate planning platforms compete for market position.
Sanctuary Partner Alluvial Adds $190 Million Ohio-Based Advisor
Sanctuary Wealth announced Ohio-based Bryan Blackburn will join its partner firm Alluvial Private Wealth. Blackburn brings $190 million to Alluvial.
Alluvial is a Sanctuary Enterprise Partner, giving it access to resources for inorganic growth.
Prudential Announces AI Upgrades For Advisor Leads Programs
Prudential Advisors announced upgrades to its advisor leads programs to embed AI in enrichment, scoring, feedback, routing and advisor enablement.
The enhancements are intended to improve conversion rates and lead quality.
Choreo To Acquire $1.3 Billion Pennsylvania-Based RIAs
Choreo agreed to acquire two Pennsylvania-based RIAs – Northeast Financial Group and Herbein Financial Group – with a combined $1.3 billion in client assets.
The deal will add six advisors and six staff to Choreo.
Ascentis Holdings Launches With $2 Billion In Assets
Michael Mansur and Clint Sorenson launched Ascentis Holdings, which is comprised of three firms: Ascentis Asset Management, Ascentis Independent Advisors and Ascentis Wealth Management.
The combined firm has over $2 billion in assets and provides multiple affiliation models for advisors, in addition to asset management services.
Kestra Strengthens Advanced Planning Capabilities With Executive Hire And RightCapital Deal
Kestra Financial announced that it made “significant investments” in its advanced planning capabilities by appointing Christine E. Brown as Head of Advanced Planning and entering into a partnership with financial planning software provider RightCapital giving Kestra-affiliated advisors access to new planning solutions.
This double move toward strengthened planning sends a clear signal.
Cetera Adds $1.9 Billion With Purchase Of Darnall Sikes Wealth Management Business
Cetera bought the wealth management business of $1.9 billion Louisiana-based Darnall Sikes Wealth Partners, which already had an affiliation with Cetera’s Avantax. Darnall Sikes is now part of Avantax within Cetera’s RIA and Branches channel.
This acquisition is an example of the trend of affiliation turning into M&A.
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