Wealth management merger and acquisition (M&A) activity continued to build through August, bringing the year-to-date total to 259 announced transactions. This represents a 7.5% increase over the 241 transactions announced through August 2025, further extending 2026’s lead over last year’s record-setting pace. The sustained level of activity underscores the continued strength of the market and the durability of consolidation across the wealth management landscape.
The continued outperformance reflects many of the same forces that have supported activity throughout 2026: strong buyer demand, significant private capital, and ongoing pressure for firms to build scale, expand capabilities, and strengthen long-term competitiveness. At the same time, firm owners continue to evaluate partnerships through a broader strategic lens, considering how additional infrastructure, technology, talent, and growth resources can position their businesses for the next phase. With transaction volume now meaningfully ahead of 2025, the underlying drivers of consolidation remain firmly in place.
M&A market update
Private capital-backed buyers accounted for 182 of the 259 transactions (70.3%) through August, down from the 2025 year-end figure of 74.0%. Independent firms accounted for 59 deals and 22.8% of the market, which is a slight increase from 2025’s final percentage of 21.8% (on 86 total independent deals). Insurance brokerages acquired 17 wealth management and retirement firms in 2026.
The top 10 buyers represented 32.0% of total transactions, and the top three acquirers (Wealth Enhancement, Hightower, and Carson) accounted for 18.1% of all announced deals. At the same time, geographic dispersion reinforces the breadth of the current market environment. A total of 40 states recorded wealth management M&A activity through August, with California leading the country at 23 transactions, underscoring both the depth and national reach of ongoing consolidation.
Notable transactions
August 3: Simplicity Group acquired Mid-Atlantic Wealth Advisory Group, a Pennsylvania-based registered investment advisor (RIA) providing holistic financial planning to professionals, business owners, and pre-retirees. As part of the transaction, founders Dennis Maguire and Robert Sayre will become partners at Simplicity, and the firm will rebrand as Simplicity Wealth Advisors. The acquisition expands Simplicity’s wealth management platform by combining Mid-Atlantic’s planning expertise and client relationships with Simplicity’s broader securities, insurance, marketing, and operational capabilities. The transaction positions the Mid-Atlantic team to scale its presence across the region while maintaining its focus on holistic financial planning and long-term client relationships.
August 12: Merit Financial Advisors acquired The Bridgeway Group, a Southern California wealth management firm overseeing approximately $900 million in assets, expanding its presence in the Pasadena and Covina markets. Bridgeway is led by longtime partners Matt Dupon, Sean Montgomery, and Scott Miller and provides comprehensive financial planning and investment management with a particular focus on retirement planning. The firm had been affiliated with Commonwealth Financial Network for 13 years and grew approximately 22% annually over the past five years through a combination of organic growth, acquisitions, and market appreciation. The transaction marks Merit’s 61st acquisition and ninth partnership of 2026, while also making Bridgeway the sixth former Commonwealth team to join Merit since LPL Financial announced its acquisition of Commonwealth.
Looking forward
Looking ahead, the wealth management M&A market remains well positioned for a strong finish to 2026. Much of the activity being announced today reflects strategic planning and transaction processes that began months earlier, while the market continues to be supported by substantial capital availability, a deep pool of experienced acquirers, and strong demand for high-quality firms. As owners evaluate how best to support future growth, invest in technology and infrastructure, and strengthen long-term competitiveness, strategic partnerships are likely to remain an important part of the conversation. With the underlying drivers of consolidation firmly intact, MarshBerry remains optimistic about the market’s momentum throughout the remainder of the year.
