Planning the Future: Succession Strategies for RIAs

As your firm continues to grow, having a solid succession plan is essential not just for continuity, but to help ensure a smooth leadership transition, retain client relationships, and protect the value you’ve built.

Planning ahead helps establish a framework for long-term stability and success—for your clients, your team, and the legacy of your firm.

Why Succession Planning Matters

While 62% of financial services firms prioritize succession planning, only 35% of companies overall have formal succession plans.[1]

Postponing succession planning is understandable. You may not want to take time away from serving clients, it may feel overwhelming, or it may be challenging to envision your business in someone else’s hands.

However, delaying planning can put your firm at serious risk, not just financially, but in terms of losing clients and destabilizing your team. The sooner you begin, the more options you’ll have—and the better you can control the outcome.

Let’s break down some of those options.

Mergers and Acquisitions

The RIA space has experienced record merger and acquisition (M&A) activity in recent years, driven by private equity interest, attractive valuations, and aging Advisors seeking effective exit strategies.

In 2023, form ADV-W filings, which Advisors must file with the Securities and Exchange Commission (SEC) to terminate their registrations, saw an increase. Out of 997 filings, 295 were attributed to transaction, such as sale, merger, or succession.[2]

And, in 2025, the RIA industry began with record-breaking activity, posting 75 M&As in Q1—a 15% increase over 2024.[3]

Succession through M&A can offer immediate liquidity, which can help provide retirement security. Joining a larger firm can also enhance client service capabilities and reduce operational strain by providing support in areas like staffing, compliance, and technology.

However, while M&As can help RIAs expand their client base, reach, and capabilities, successful integration requires careful attention to investment philosophy, cultural fit, client retention, and efficiency.

Securing funding is also crucial to support investments in technology, talent, and expansion while maintaining financial stability, particularly during market fluctuations.

Legacy Planning

The Advisor base is aging. Over the next decade 37.5% plan on retiring.[4] Legacy planning can offer a strategic way to ensure client continuity and preserve your firm’s values once you retire.

If you’re committed to your firm’s independence or you view the business as a multi-generational legacy, legacy planning can help ensure a smooth transition, protecting client relationships and maintaining your firm’s value.

Legacy planning can also help mitigate tax issues by discussing various tax scenarios that could impact your estate or beneficiaries after your death.[5]

Also, choosing a family member as your successor avoids the challenge of finding an external candidate who aligns with your firm’s vision and values.

However, those planning to keep their RIA firm in the family may face several challenges:[6]

• 30% of family-owned businesses survive from the first to the second generation
• 12% of family-owned businesses survive from the second to the third generation
• 47% of owners expecting to retire in the next five years do not have a successor

Creating a written plan that outlines succession goals, roles, and timelines can help reduce the risks of leadership gaps, misalignment, and business disruption.

TAMP Partnership

Another compelling succession planning option is forming a partnership with a Turnkey Asset Management Platform (TAMP). While traditionally associated with investment outsourcing, many TAMPs, including Symmetry’s Axiom Wealth Platform, offer solutions that align with succession planning goals, including:

• Back-office support – handling operations, compliance, and investment management, which can free up time for RIAs nearing retirement or preparing a transition.
• Continuity of service – providing a seamless client experience during a transition. (As a partner doing business with Axiom, when you’re ready to retire, Symmetry will be available to assist you in managing your book of business.)
• Scalable infrastructure – offering advanced technology and resources that can help position your firm for growth—even after you exit.

Whether partnering with a TAMP is the right strategy for your succession depends on your goals. If maintaining control and independence is important, a flexible TAMP relationship may be ideal. If you’re ready to step away more completely, other succession routes may be better options.

Start Planning

Whether you’re considering selling, handing down the business to a family member, or partnering with a TAMP to ease the transition, it’s important to create a strategic plan for transitioning ownership. The most important step is starting the conversation.

Need help getting started? Download Our Succession Overview to learn more or contact us to find out how Symmetry can help.

For Financial Professionals Only. Symmetry Partners, LLC provides this communication on this site as a matter of general information. Information contained herein, including data or statistics quoted, is from sources believed to be reliable but cannot be guaranteed or warranted. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions. All content on this site is for educational purposes and should not be considered investment advice, recommendation or offer of any security for sale. Symmetry Partners does not provide tax or legal advice and nothing either stated or implied in this material should be inferred as providing such advice. Symmetry Partners does not approve or endorse any third-party communications on this site and will not be liable for any such posts. 

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[1] Belyh, A., “27 Succession Planning Statistics for 2025,” Keevee, February 13, 2025, https://www.keevee.com/succession-planning-statistics

[2] Investment Adviser Industry Snapshot 2024, Investment Adviser Association, https://www.investmentadviser.org/wp-content/uploads/2024/06/Snapshot2024_FINAL.pdf

[3] “RIA M&A Activity Delivers Record First Quarter,” DeVoe & Company RIA Deal Book^TM, 2025, https://static1.squarespace.com/static/5410ec1be4b0b9bdbd0cc342/t/680f8b13c929a4531049de85/1745849113348/Q1+2025+DeVoe+Deal+Book_vFINAL.pdf

[4] The Cerulli Edge, U.S. Advisor Editon, The Advisor Affiliation Issue, Cerulli Associates, 2024

[5] Kagan, J., “Legacy Planning: What it Means, How it Works,” Investopedia, December 2021, https://www.investopedia.com/terms/l/legacy-planning.asp

[6] SCORE, “Infographic: The Family Business—Successes and Obstacles,” SCORE, March 2018, https://www.score.org/resource/infographic/infographic-family-business%E2%80%94successes-and-obstacles