Insurance brokerage interest in the wealth advisory space has been building over the past few years due to a convergence of factors. As the average wealth business owner is over the age of 55, and many lack viable internal perpetuation options, there is a large pool of assets under management that needs a new home. Insurance brokerage buyers are attracted to the wealth space due to the shared characteristics of industry stability, the trusted advisor-client relationship, low client turnover, and recurring revenue. They also recognize the importance of providing private wealth solutions not only for retirement plan participants but also for business owners, high-net-worth clients, and affluent families. In 2025, there was a relatively small decline in the number of wealth advisory transactions involving insurance brokerage compared to previous years. Their percentage of total deals dropped from 9.9% in 2024 to 8.1% in 2025 yet only saw a decrease of three deals year-over-year.

Of the 32 transactions completed in 2025 by insurance brokers, 25 of those transactions (78%) were for firms that provide wealth advisory services, a shift from the historical range of 40-60% in 2021-2023, but in line with the 77% from 2024. Historically, insurance brokerage firms led with retirement plan businesses and viewed wealth as a complimentary feature of the deal. However, as these firms have built out their wealth platforms, they have become increasingly comfortable targeting firms with wealth advisory businesses.