July 2025 RIA Heat‑Map: 10 U.S. Moves Every Capital‑Raiser Should Track
July 2025 saw 32 U.S. RIA deals totaling $57.1B in AUM—up sharply from June. This Altss heat-map highlights the 10 moves that matter most for capital-raisers, showing how custody choices, PE-backed consolidators, and platform integrations are rewiring alt-allocation flows.
July 2025 RIA Heat‑Map: 10 U.S. Moves Every Capital‑Raiser Should Track
Why July 2025 matters
Deal flow accelerated: one industry tracker logged 32 announced RIA transactions totaling ~$57.1B in AUM, up from 24 / $37.7B in June. That’s not just consolidation; it’s a wholesale rerouting of who controls allocations into private credit, private equity, real assets and evergreen structures. Altss surfaces these shifts the same day they’re announced—pairing fresh regulatory filings with public‑domain intelligence—so fund‑raisers can move first (no proprietary collection methods disclosed).
How this heat‑map was built
We tracked every U.S. RIA launch, acquisition, minority investment, custodial shift and platform move announced 1–31 July 2025. Each event was scored for net‑new addressable AUM, stated alternatives orientation, and immediacy of fundraising impact (e.g., custody decisions or capital injections). Only public sources were used; Altss’s real‑time OSINT pipeline stays under the hood.
The 10 moves rewiring alt‑allocation flows
EP Wealth buys Rappaport Reiches Capital Management — ~$1.2B AUM (Chicago), July 22
EP completed its 7th deal of 2025, adding majority‑women RIA RRCM to expand its Midwest hub.
Allocator angle: One IC nod in Chicago can open multiple distribution doors for feeders and interval structures.
Lido Advisors acquires Olympus Wealth Management — ~$850M AUM (UT), July 29
The fourth Lido deal of 2025 plants a Mountain West flag at Olympus Wealth. Context: Lido’s spring partnership with HPS Investment Partners gives fresh balance‑sheet firepower for M&A.
Allocator angle: New geography + new PE partner = faster diligence cycles for private‑market sleeves.
Ameriprise breakaway “Laurel Oak Wealth” launches — ~$2.3B AUM (NJ), July 24–25
A five‑advisor team launched Laurel Oak Wealth with Goldman Sachs Custody Solutions and tru Independence.
Allocator angle: Goldman rails compress the path to feeder funds and co‑investments.
SEI to buy majority of Stratos Wealth — ~$527M for 57.5%, announced July 18
SEI agreed to acquire a controlling stake in Stratos Wealth Holdings, tying a national RIA/BD network to SEI’s platform.
Allocator angle: SEI launched an alts marketplace (SEI Access) in March, now poised to flow through Stratos distribution.
Beacon Pointe closes six acquisitions in 60 days — +$2.7B AUA, July 8
Women‑led Beacon Pointe announced six RIA additions across the U.S., taking the platform to ~$47B AUA.
Allocator angle: Multi‑city tuck‑ins create many doors into one IC—win approval once, distribute broadly.
Carson Group acquires Aveo Capital — ~$608M AUM (CO), July 9–10
Carson’s 15th acquisition of 2025 adds Englewood‑based Aveo, rebranding to Carson Wealth.
Allocator angle: Carson’s talent‑and‑tech thesis favors institutional‑grade onboarding—get in their diligence flow early.
Summit Financial takes minority stakes in four firms — ~$1.2B combined, July 21
Through Summit Growth Partners, Summit bought minority interests in four practices across NY, FL, OH and NM; firms join Summit’s ADV while keeping local brands.
Allocator angle: Minority equity is a stealth AUM on‑ramp—once IC alignment happens, alt flows can scale quickly.
Osaic buys majority of Innovative Wealth Team — ~$700M AUM (TN), July 23
Reverence‑backed Osaic made a strategic majority investment to bolster its W‑2 employee channel and succession offering.
Allocator angle: Centralized product approval means one committee win can propagate across future recruits.
Apella Wealth acquires Independence Wealth Advisors — ~$207M AUM (DC), July 1 (close June 30)
Apella added DC‑based Independence Wealth Advisors, taking platform AUM above $6B.
Allocator angle: Evidence‑based planning practices are ramping demand for income‑oriented private credit and evergreen vehicles.
Two Commonwealth teams launch independent RIAs — nearly $1B combined, July 8–14
Milestone Financial Associates ($609M) launched with Schwab custody; Spiegelman Wealth Management ($351M) launched with Fidelity custody.
Allocator angle: New independents choose the rails on day one—arrive with custodian‑ready data feeds (NAV, tax lots, K‑1 timing).
Custody & platforms watch (why this matters for alts)
- Schwab paused a planned direct‑outreach letter to certain RIA clients after advisor pushback; expect heightened sensitivity around custodian go‑to‑market and cross‑channel messaging.
- SEI + Stratos signals deeper integration of alts marketplaces into advisor operating systems—faster approvals when marketplace listings sync with custodial/ops rails.
Meta‑trend: Scale + software are fusing distribution
Private‑equity capital is buying distribution, not just earnings. GTCR agreed to acquire FMG Suite (advisor marketing/AI), expanding a wealth‑tech footprint that already spans marquee platforms—tightening the path from manager story → advisor → client.
Three plays for capital‑raisers in August
Ride the custody rails (by name).
Lead with Goldman for Laurel Oak–style independents; Schwab and Fidelity for Commonwealth breakaways; SEI network firms for Stratos affiliates. Bring custodian‑native artifacts (clean data feeds, short‑form IC memos keyed to that platform’s taxonomy).
Pre‑wire aggregator ICs.
Carson, EP, Beacon Pointe, Summit and Osaic are all scaling; one approval unlocks multi‑office distribution. Pair evergreen/interval vehicles with co‑invests to fit diverse household liquidity profiles.
Match PE‑backed rigor.
SEI↔Stratos and Lido↔HPS expect institutional diligence. Lead with audited track records, fee transparency, and operational readiness (AML/KYC flows, portal UX, monthly statements).
Quick‑hit FAQ
Largest disclosed acquisitions in July 2025?
Largest breakaways to prioritize?
- Laurel Oak Wealth (ex‑Ameriprise) launched with ~$2.3B AUM and Goldman custody; Milestone + Spiegelman (nearly $1B combined) launched with Schwab and Fidelity, respectively.
Deal volume vs. June?
- July: 32 deals / $57.1B AUM vs. June’s 24 / $37.7B—a meaningful uptick.
Why Altss users saw it first
Altss fuses live filings with public‑domain signals—press wires, IC announcements, custody choices, leadership changes—to surface actionable fundraising targets within hours of announcement. No secret sauce disclosed; just the right signals, in time to matter.
