Advisory & Consulting

RIA consolidation is accelerating in 2025, with Mercer Advisors completing 11 acquisitions and Osaic settling regulatory claims for $17.2 million. Decision-makers must balance the scale opportunity with the compliance liability embedded in rapid financial advisory M&A.

RIA platform consolidation is accelerating globally, driven by regulatory pressure, fintech integration, and margin compression — with direct implications for how mid-market and European firms structure their financial advisory relationships. CFOs and M&A directors must reassess counterparty resilience and advisory fee alignment before the landscape consolidates further.

RIA consolidation is reshaping the financial advisory landscape across the US and Europe, with direct implications for corporate treasury, fundraising access, and compliance governance. CFOs and General Counsel must act now to audit counterparty relationships and adapt to a contracting intermediary market.

Osaic’s $17.2 million settlement, a $2.4 billion RIA breakaway, and Beacon Pointe’s latest acquisition signal structural shifts in financial advisory markets with direct implications for European M&A and capital allocation strategy. Senior executives should treat these U.S. developments as leading indicators for governance risk, advisor retention, and fixed-income portfolio positioning.

U.S. equities have reached new highs, with Technology outperforming Financial Services by over 16 percentage points YTD as AI drives capital markets rotation. Mid-market CFOs, M&A Directors, and General Counsel must act now on restructuring optionality, treasury positioning, and AI-aligned fundraising strategy.

Project Pythagore — the Banque de France and Euroclear’s joint initiative to tokenise Europe’s €310 billion NEU CP market — marks a pivotal moment for treasury management and capital markets efficiency. Combined with the ECB’s dual-track DLT strategy and AI deployment in funding operations, these developments demand immediate strategic attention from CFOs, General Counsel, and capital markets leaders.

European capital markets are navigating a structural shift defined by sustained rate normalisation, Basel IV implementation, and accelerating fintech regulation. CFOs and M&A directors who integrate treasury strategy, restructuring readiness, and regulatory compliance will hold a measurable competitive advantage.

The US-UK joint task force on digital assets and the OCC’s amendment to 12 CFR 5.20 are reshaping the regulatory landscape for fintech, capital markets, and cross-border compliance. CFOs, General Counsel, and M&A Directors must act now to align strategy with these structural shifts.

Fintech consolidation, tightening banking regulation, and disciplined capital markets are reshaping strategic decision-making for CFOs, M&A Directors, and General Counsel in 2026. This analysis examines the key forces at play and the actionable priorities for executive teams navigating a more demanding transaction environment.

European capital markets are undergoing structural transformation driven by regulatory change, private credit expansion, and fintech-enabled infrastructure. CFOs and M&A Directors must integrate financial advisory, restructuring, and digital strategy to maintain competitive positioning in 2026.