For registered investment advisor (RIA) firms looking to expand their reach or impact, mergers and acquisitions (M&A) are popular vehicles for growth. Every RIA acquisition poses its own set of complexities, with countless platforms and processes to reconcile. Yet from the client’s perspective, the value of consolidation comes down to one simple question: What does this mean for me?
The answer often depends on how the newly expanded firm handles its blended technology ecosystem. In an industry based so heavily on relationships, what matters most to your client after an RIA acquisition is a familiar experience that feels effortless to them, even though it may require great effort behind the scenes. By focusing on strategic technology integration, meticulous customer relationship management (CRM) consolidation, and intentional change management early on, RIA firms are poised to transform potential growing pains into powerful advantages to preserve and evolve the client experience.
The Client Experience Can Make or Break an RIA Acquisition
According to the latest RIA Deal Book by DeVoe & Company, 2025 was a record-setting year in terms of M&A activity, with 322 deals outpacing the previous year’s record of 272. The report also noted that fewer, more experienced buyers are behind the uptick — established brands with targeted M&A experience and proven records of success. Yet historically, studies show that 70% to 90% of acquisitions fail to achieve their objectives.
The reasons for failure are rarely tied to the deal itself. More often, they emerge after the transaction closes and real-world technical challenges impede communication or delay expected synergies. When problems arise, the impact on the client experience is immediate, potentially compromising relationships that may have taken years to build. Since relationships are the foundation of the business, these experiences can have a direct impact on advisor productivity, client retention, and long-term growth.
Make Strategic Technology Integration a Top Priority
Many RIAs view acquisitions through the lens of people, processes, and operations. While those factors are undoubtedly important, effective technology integration creates the right conditions for success by connecting every stage of the client journey. These interconnected platforms and tools may include:
- CRM systems
- Portfolio management platforms
- Financial planning software
- Marketing automation tools
- Document management systems
- Client portals
- Reporting and analytics platforms
- Custodial integrations
- Communication and collaboration tools
When two firms come together in an RIA acquisition, these systems rarely align perfectly. One firm may be using Salesforce (Financial Services Cloud or Sales Cloud), while another is relying on Redtail, AdvisorEngine CRM/Junxure, Microsoft Dynamics, or a customized original equipment manufacturer (OEM) solution. Each organization may also have its own distinctive workflows and conventions within the platform. Without proper integration, the fragmented technology environment can make it difficult for advisors and service teams to operate efficiently. They may have trouble accessing meeting notes, determining household relationships, or tracking service requests. Reporting may become inconsistent, and response times may increase.
And when systems fail to align, what is initially a technology issue can quickly become a client experience issue. According to Boston Consulting Group’s (BCG) 2024 research on post-merger technology integration, the first 100 days are especially crucial. While business continuity is the primary goal, this stage involves much more than a simple integration exercise. It lays the foundation for long-term efficiencies, growth, and true transformation.
Never Underestimate the Importance of CRM Consolidation
For many RIAs, CRM consolidation becomes the centerpiece of post-acquisition integration — and with good reason. The CRM is far more than a contact database. It serves as the operational hub of the firm and contains the information advisors rely on every day to manage client relationships. Some of the many details housed within the CRM include:
- Client and prospect profiles
- Household relationships
- Meeting notes
- Service requests
- Advisor activities
- Workflow history
- Compliance records
- Marketing engagement data
- Business development opportunities
- Referral relationships
During an RIA acquisition, leaders often discover that the two parties use different systems or structures to access records. Records may also be duplicated within the same system or be used to support different business processes. Successful CRM consolidation doesn’t simply merge databases — it establishes a single source of truth to help the entire team serve the client’s best interest with business savvy and compliance.
Change Management and User Adoption: The Most Overlooked Risk in M&A
Despite investing significant time and resources into technology integrations, many RIA acquisitions fail to devote the same attention to user adoption. Even the most well-designed Salesforce implementation can fall short if employees continue using legacy processes or inconsistent workflows. A successful venture requires helping advisors, service teams, and operations staff embrace new ways of working. This is where change management becomes critical. Training is a strategic, yet often overlooked, component of the integration process. Employees need to understand not only how to use the new system, but why the change is occurring and how it will help them serve clients more effectively.
At ShellBlack, we have found that role-based, process-focused training is one of the strongest predictors of long-term adoption and integration success. Rather than delivering generic Salesforce instructions, we provide “Day in the Life” training tailored to each firm’s workflows, responsibilities, and daily operations — helping users understand how the platform supports their specific roles.
When advisors and service teams are properly trained, firms maximize the value of their CRM investment. In an RIA acquisition, technology creates the foundation for growth, but change management is essential to transforming that investment into measurable business value.
The Bottom Line: Technology Integration Is a Client Experience Strategy
Successful acquisitions are not won in the boardroom — they are won when technologies and teams come together seamlessly to enhance the client experience.
Over the past 16+ years, ShellBlack has completed more than 400 CRM migration and consolidation projects in the financial services arena, including complex acquisitions and Salesforce org-to-org migrations. Our experience spans Salesforce, Redtail, AdvisorEngine CRM/Junxure, Tamarac, Microsoft Dynamics, and other leading platforms.
If your firm is evaluating an acquisition, planning a CRM consolidation, or preparing for a Salesforce migration, a thoughtful integration strategy can help you maximize the value of your efforts.
Author Credit: Haven Blais, Director of Sales at ShellBlack