Deal value has more than doubled since the start of 2025, rising from US$3 billion to US$8 billion.

Deals in the wealth management space surged in the third quarter, and are expected to continue climbing in the new year.

Mergers and acquisitions in the sector jumped 15 per cent against the prior quarter, based on a report from PwC. Wealth management deals comprised the bulk of that increase, rising 27 per cent in the period.

Reduced financing costs due to the US Federal Reserve’s rate cuts have boosted activity, the report said. Private equity capital continues to flood into the sector, targeting firms that are offering fee-based revenue streams and opportunities to scale platforms. 

Deal value has more than doubled since the start of 2025, rising from US$3 billion to US$8 billion. 

This trend is expected to continue, with 2025 deal activity for wealth management projected to surpass 2024 levels, and spill over into 2026. Further interest rate cuts will be a catalyst, said PwC.  

“Shareholders are demanding higher returns, investors want more choice and technology spend requires greater capital investment,” Greg McGahan, deals leader for asset and wealth management at PwC, said in the report. “These pain points will likely spur more asset and wealth management dealmaking.”