# Minority stakes and outside capital

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
Address: https://advisoriq.com/succession/guides/minority-stakes/

## 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%.

## 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.

## Sources

- InvestmentNews: Minority investments in RIAs shift toward smaller firms, DeVoe data show, checked 2026-10-05: https://www.investmentnews.com/ria-news/minority-investments-in-rias-shift-toward-smaller-firms-devoe-data-show/266216
- DeVoe & Company: RIA Deal Book, fourth quarter 2025, checked 2026-10-05: https://48115356.fs1.hubspotusercontent-na1.net/hubfs/48115356/Q4%202025%20DeVoe%20Deal%20Book%20-%20FINAL.pdf
- Echelon Partners, press release: Echelon Partners reports the most active second quarter on record for RIA M&A, checked 2026-10-05: 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
- Legal Information Institute, Cornell Law School: 17 CFR 275.202(a)(1)-1, certain transactions not deemed assignments, checked 2026-10-05: https://www.law.cornell.edu/cfr/text/17/275.202(a)(1)-1
- U.S. Securities and Exchange Commission: Form ADV: General Instructions (SEC 1707), checked 2026-10-05: https://www.sec.gov/files/formadv-instructions.pdf

## Related

- [Asset sale or equity sale: how practice deals are structured](https://advisoriq.com/succession/guides/asset-sale-vs-equity-sale/)
- [Down payments, seller notes and earnouts: how the price gets paid](https://advisoriq.com/succession/guides/how-the-price-gets-paid/)
- [How long a sale or succession takes](https://advisoriq.com/succession/guides/how-long-a-sale-takes/)
- [What buyers look at](https://advisoriq.com/succession/guides/what-buyers-look-at/)
- [Valuation estimator](https://advisoriq.com/succession/valuation/)
- [RIA deal tracker](https://advisoriq.com/succession/deals/)

## Cite as

AdvisorIQ, as of 2026-10-05. https://advisoriq.com/succession/guides/minority-stakes/

License: https://advisoriq.com/license/