The RIA M&A market remained active through May, with FINTRX tracking 25 announced transactions during the month. Total disclosed acquired AUM reached approximately $44.7 billion, driven largely by a single standout deal: the acquisition of Leafhouse Financial Advisors ($24.1B, Austin, TX) by Mesirow Financial Investment Management. Strip that transaction out and the month reflects a steady stream of sub-$1B tuck-ins alongside several mid-market deals, consistent with the consolidation patterns seen earlier in the year.
Across the dataset:
• 25 total announced deals
• 25 deals with disclosed AUM
• ~$44.7 billion in disclosed acquired AUM
• Median disclosed deal size: ~$295 million
• Average disclosed deal size: ~$1.79 billion
• 230 total employees across acquired firms
• Median acquired firm headcount: 4
• Average acquired firm headcount: 9.2
The gap between median and average deal size is again explained by a small number of large transactions pulling the average upward. The median of $295M reflects a market where most activity continues to be smaller, advisor-focused acquisitions. The majority of May's deals involved firms under $500M in AUM, reinforcing that geographic and talent-driven tuck-ins remain the dominant transaction type by volume.
Savant Wealth Management was the most active buyer of the month, closing three acquisitions: North Ridge ($223M, Beaverton, OR), Desmond Wealth Management ($148M, Walnut Creek, CA), and Meridian Wealth Advisors ($168M, Albuquerque, NM). The three deals added approximately $539M in AUM and extended Savant's geographic footprint across the West Coast and Southwest.
MAI Capital Management completed two acquisitions, acquiring Service Academy Capital Management ($734M, Dallas, TX) and Saybrook Wealth Group ($273M, Old Saybrook, CT), adding over $1B in AUM across two distinct markets. Mission Wealth Management and Moneco Advisors each also closed two deals during the month.
The five largest transactions by disclosed AUM accounted for the overwhelming majority of total acquired assets:
|
Acquired Firm |
Acquiring Firm |
AUM |
|
$24.1B |
||
|
$7.8B |
||
|
Financial Strategies Retirement Partners |
$2.8B |
|
|
$1.3B |
||
|
$1.2B |
The Leafhouse Financial Advisors transaction was the defining deal of the month. At $24.1B in AUM and 30 employees, the Austin-based firm represented a significant platform acquisition for Mesirow Financial Investment Management. The deal highlights continued appetite among established asset managers and wealth platforms for large-scale RIA acquisitions that bring both assets and operational infrastructure.
Corient's acquisition of Capital Advisors ($7.8B, Tulsa, OK) was the second largest of the month and added 69 employees, making it one of the larger headcount additions tracked in May.
FINTRX RIA M&A Intelligence is built to give users a more complete and actionable view of acquisition activity across private wealth. Rather than relying on a single source or only headline announcements, FINTRX aggregates and validates transactions using a combination of public filings, regulatory sources, digital signals, market announcements, and proprietary research processes.
Each transaction in the FINTRX M&A dataset involves a registered wealth management firm on both sides of the deal, meaning both the acquiring and acquired entities are registered firms within the private wealth landscape.
Every acquisition is a potential commercial trigger event.
When RIAs merge:
• Advisors may move firms
• Investment platforms are reevaluated
• Product shelves can change
• New decision-makers emerge
• Territories realign
• Competitors may lose footing during integration
May's transactions created disruption across markets from Austin to Tulsa to Bedford, NH. The teams that move fastest on M&A intelligence will be best positioned to capitalize before competitors do.
• Active acquirers gaining scale
• Advisor movement after deals
• Newly combined firms reviewing allocations
• Regions seeing elevated concentration of advisor share
• Buyers with growing enterprise influence
For acquisitive RIAs, May reinforced that the most active buyers are operating proactive, repeatable pipelines. Firms seeking growth need better visibility into:
• Likely sellers
• Succession-risk firms
• Regional tuck-in targets
• Repeat buyer patterns
• Competitor expansion activity
May 2026 data reflects a market defined by consistent tuck-in activity and punctuated by a handful of transformative transactions.
• 25 deals announced
• ~$44.7B in disclosed AUM acquired
• Six deals exceeded $1B in AUM
• Serial acquirers remained highly active
• Every deal created potential sales, recruiting, and strategic opportunities
For growth-focused teams, M&A data is not just market news. It is revenue intelligence.
FINTRX helps firms track acquisitions, advisor movement, active buyers, likely sellers, and the opportunities created in the dynamic private wealth market. Move faster on M&A signals and capitalize on post-deal disruption. Book a FINTRX demo today.