RIAs: Historic Greatness or Mediocrity? An Interview with David Devoe [Episode 67]

About this episode

Matt Ackermann interviews David Devoe about the future of RIAs following a year of historic growth and the implications of M&A trends.

2025 was a year of historic growth for RIA’s as deal volume surged. But what’s next for the industry? Host Matt Ackermann chats with David DeVoe, the maestro of data from Devoe & Company, to break down what’s driving convergence and what it signals for the future. Dave explains why M&A is now “embedded in the DNA” of the RIA space, revealing that the desire for scale is currently the biggest driver of deals, though the long-anticipated succession crisis is rapidly catching up. DeVoe shares surprising data on the “trend toward mediocrity” in human capital, and why only 22% of firms believe their next-generation leaders can afford to buy them out. Matt and Dave also discuss the rise of “Wirehouse 2.0” and the anecdotal potential for a new wave of breakaways. Tune in to understand the true state of the RIA union and what’s coming down the pike next for advisors.

People in this episode

Host: Matt Ackermann

Guest: David Devoe

Topics covered

• RIA growth
• M&A trends
• human capital
• leadership succession
• industry future

Keywords

• RIA
• M&A
• human capital
• leadership
• industry trends
• 2025
• Devoe & Company

Mentioned in this episode

Organizations: Devoe & Company

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