{"type":"succession_guide","title":"Minority stakes and outside capital","lead":"As of Oct 5, 2026, minority transactions made up 15% of RIA deal activity in the first quarter of 2026, 14 deals, according to DeVoe & Company data reported by InvestmentNews.","as_of":"2026-10-05","facts":{"summary":"How a minority investment differs from a sale, how common these deals are, and why control is about more than a percentage.","key_facts":["Minority transactions were 15% of RIA deal activity in Q1 2026, 14 deals.","Minority stakes were 14% of all RIA transactions in 2025.","Private equity-backed acquirers completed 91 of 120 RIA transactions in Q2 2026, or 75.8%."]},"sources":[{"url":"https://www.investmentnews.com/ria-news/minority-investments-in-rias-shift-toward-smaller-firms-devoe-data-show/266216","checked":"2026-10-05","label":"InvestmentNews: Minority investments in RIAs shift toward smaller firms, DeVoe data show"},{"url":"https://48115356.fs1.hubspotusercontent-na1.net/hubfs/48115356/Q4%202025%20DeVoe%20Deal%20Book%20-%20FINAL.pdf","checked":"2026-10-05","label":"DeVoe & Company: RIA Deal Book, fourth quarter 2025"},{"url":"https://www.prnewswire.com/news-releases/echelon-partners-reports-the-most-active-second-quarter-on-record-for-ria-ma-with-120-transactions-and-378-billion-in-aum-transacted-302835940.html","checked":"2026-10-05","label":"Echelon Partners, press release: Echelon Partners reports the most active second quarter on record for RIA M&A"},{"url":"https://www.law.cornell.edu/cfr/text/17/275.202(a)(1)-1","checked":"2026-10-05","label":"Legal Information Institute, Cornell Law School: 17 CFR 275.202(a)(1)-1, certain transactions not deemed assignments"},{"url":"https://www.sec.gov/files/formadv-instructions.pdf","checked":"2026-10-05","label":"U.S. Securities and Exchange Commission: Form ADV: General Instructions (SEC 1707)"}],"related":[{"title":"Asset sale or equity sale: how practice deals are structured","url":"https://advisoriq.com/succession/guides/asset-sale-vs-equity-sale/"},{"title":"Down payments, seller notes and earnouts: how the price gets paid","url":"https://advisoriq.com/succession/guides/how-the-price-gets-paid/"},{"title":"How long a sale or succession takes","url":"https://advisoriq.com/succession/guides/how-long-a-sale-takes/"},{"title":"What buyers look at","url":"https://advisoriq.com/succession/guides/what-buyers-look-at/"},{"title":"Valuation estimator","url":"https://advisoriq.com/succession/valuation/"},{"title":"RIA deal tracker","url":"https://advisoriq.com/succession/deals/"}],"notes":["Educational, not legal, tax or investment advice.","Practice management content is not eligible for CFP Board CE. CFP Board plans to allow up to five hours of it per cycle once its Q4 2027 changes take effect."],"url":"https://advisoriq.com/succession/guides/minority-stakes/","citation":"AdvisorIQ, as of 2026-10-05. https://advisoriq.com/succession/guides/minority-stakes/","license":"https://advisoriq.com/license/","publisher":"AdvisorIQ, independent education for financial advisors","disclaimer":"Summaries of rules set by designation bodies and regulators, which have the final word."}