Wealth management M&A activity cooled in the third quarter across several industry trackers. DeVoe & Company counted 77 RIA deals, a 17% drop in volume from last year, which it attributed to market volatility distracting leaders of smaller firms. Piper Sandler recorded 89 deals versus 93 a year earlier, and Fintrx counted 60 versus 62, though its tally excludes deals by private equity firms, banks and insurers. Despite the slowdown, Fintrx has logged 225 deals year-to-date, already above the 193 for all of 2025, while Marshberry counted 294 deals through September compared with 281 in 2025. Analysts expect large consolidators to keep 2026 on track for a record, and Marshberry said the full-year count could break 400 deals.
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