Sell a Wealth Management / RIA business

Owner-operator wealth management / ria businesses trade at 2.5x–4.5x SDE for typical $500K–$3M SDE ranges. At $3M+ EBITDA scale the same operators sell at 8x–14x EBITDA. Multiples in this category are ebitda-based and data-sourced from AICPA Market Pulse 2025 + Vault Consulting Report. Where you land in the range is driven by growth trajectory, revenue mix, customer concentration, and management-team depth beyond the owner.

Focus Financial (private), Mariner Wealth Advisors, Hightower Advisors, Wealth Enhancement Group, and Creative Planning have led the RIA aggregation wave. Active buyer archetypes in professional services include PE-backed professional platform, Regional strategic peer, Successor / partner buy-in. Which of these bids for your business depends on scale — sub-$1M SDE is typically individual or search-fund territory, $1-3M SDE opens up PE platforms and strategics, and $3M+ EBITDA gets full LMM buyer attention.

Fee-based RIAs with $200M+ AUM and recurring advisory fees (not commission-based) trade at premium 10-14x EBITDA multiples — the recurring AUM-linked revenue is what platform buyers actively pursue. Beyond the industry-specific factor, the universal drivers in professional services are recurring engagement revenue (retainers, annual audits, ongoing counsel); partner or senior-team retention post-transaction; niche specialization (industry vertical or service specialty).

RIA producer / advisor defection with client book is the #1 diligence killer; buyers require long non-solicit and stay agreements with meaningful equity retention or stay bonuses. Buyers in this category also standardly scrutinize rainmaker concentration — one partner drives a disproportionate share of revenue and client relationships tied to owner personally. Addressing these in advance in a well-prepared CIM materially reduces retrade risk during diligence.

Typical transaction range for wealth management / ria is $500K–$40M in annual revenue. Below that, buyer pool narrows to individual and small-search-fund. Above that, PE platforms and strategics dominate. NAICS code 523930 — buyers screen by NAICS in most deal sources.

From the day you engage a broker to close, expect 6–12 months for a well-prepared business in professional services. The prep work — financial cleanup, addbacks documentation, key-employee retention agreements, real estate lease sorting — is where 3-6 months of the timeline hides. Starting that early is what separates a full-multiple exit from a discounted one.