Best data room for selling an RIA or wealth management firm (October 2026, 9 we priced)
No data room is built for registered investment advisers (RIAs). If a banker runs the sale, use that banker’s Datasite or Intralinks room. A founder-led or advisor-run sale uses a published-price room with one audience per bidder. DocSend is a teaser, not the diligence room.
This is our list of 9. Each row is the job that vendor actually wins, the price its own page states, and where it stops fitting.
Best data room for selling an RIA (definition). The room that matches the process: the banker’s Datasite or Intralinks room if a banker runs it, or a published-price room with one audience per bidder if the founder or advisor does.
DocSend wins the teaser. A Drive folder is not a diligence room for several aggregators.
How we tested
We read each vendor’s own pricing or product page on 2026-10-01. A published number is quoted as published. Quote-only stays quote-only. No price here comes from a review site. If a vendor moves a figure after that date, believe their page.
How the seller stages household files is how to share client data with an RIA buyer during due diligence.
What each data room costs an RIA sale
| Tool | Published price (dated) | Job it wins | Ceiling |
|---|---|---|---|
| Datasite / Intralinks (the banker's room) | Quote-only. Datasite's cost FAQ has no public dollar (retrieved 2026-10-01). Intralinks cost guide is quote-only (retrieved 2026-10-01). | The banker-run auction. The name and the Q&A routing that banker already uses. | No public dollar. A second room in parallel is how versions drift. |
| Firmex | Quote-only. GET A QUOTE, per-project or subscription (retrieved 2026-10-01). | A traditional quote-based VDR, per project or subscription. | No public dollar. |
| iDeals | Quote-only. Get price on every tier (retrieved 2026-10-01). | A traditional quote-based VDR with a public tier list. | No public dollar. |
| FirmRoom | $395/month for 2 GB (1 active room); $795/month for 5 GB (up to 3); $1,195/month for 10 GB (up to 5), month-to-month. Extra room $250/room/month. Overage $150/GB/month (firmroom.com/pricing, retrieved 2026-10-01). | A traditional VDR with a published month-to-month number. | Storage tiers, room caps, and GB overage. |
| SecureDocs | $250/month on a 12-month plan (onit.com, retrieved 2026-10-01). | The lowest published flat fee for one room. | Not the banker-run auction. |
| DocSend Advanced Data Rooms | $180/month billed yearly, 3 users (docsend.com/pricing, retrieved 2026-10-01). | The teaser or CIM send. | Household AUM, Form ADV backups and exam letters are a diligence room, not a deck send. Includes three users. |
| Papermark Data Rooms | €99/month billed yearly, €149/month billed monthly (papermark.com/pricing.md, retrieved 2026-10-01). | A published euro price for a founder-led room. | Euro pricing. |
| CapLinked | Team $399/month; Enterprise from $500/month or $5,000/year (caplinked.com/pricing, retrieved 2026-10-01). | A published entry price. | Not the banker-run auction. |
| Cashpian Standard | $100 / mo per company, or $1,000 / yr. Unlimited rooms, viewers and documents, no seats. | One audience per bidder, Q&A private to each buyer until published, NDA signed at the door, watermarks, per-file download control, per-buyer page logs, and in-app redaction that burns client names into a redacted PDF copy. | No SOC 2 report, no SSO, no white label, no CRM. Not an M&A advisor. No custodian integration. Not the name a banker's process already uses. |
Situation → pick
The table above is the dated prices. This one is the decision.
| If this is the sale | Pick | Do not pick |
|---|---|---|
| A banker already runs the process on Datasite or Intralinks | That banker's room | A second room in parallel. |
| Founder-led or advisor-run, several aggregators bidding | A published-price room with one audience per bidder | One Drive folder or one DocSend link forwarded down the chain. |
| The teaser or CIM only | DocSend | DocSend as the diligence room for household AUM and exam letters. |
| Counsel or the buyer asks for Firmex or iDeals | Firmex or iDeals | A second room in parallel. |
| One published month-to-month number | FirmRoom | A storage cap you will cross mid-process. |
| The lowest published flat fee, one room | SecureDocs | A banker quote for a founder-led LOI. |
| A published euro price | Papermark Data Rooms | A banker-run auction. |
Where a published-price company room fits
A company-priced room is one line for the sale. Cashpian Standard is $100 / mo per company, or $1,000 / yr, with unlimited rooms, viewers and documents and no seats. See pricing.
Each bidder gets its own audience. A published answer reaches only that bidder. The NDA is signed at the door, with a certificate per signer. Watermarks and per-buyer page logs show who is actually working the file. In-app redaction burns confirmed boxes (client names, account numbers) into a redacted PDF copy, and the original leaves that room. See What is Cashpian?
FAQ
Is there a data room built for RIAs?
No.
If a banker runs the process, use that banker's Datasite or Intralinks room.
A founder-led or advisor-run sale uses a published-price room with one audience per bidder.
Should I use DocSend for the diligence room?
For the teaser, yes.
Household AUM, Form ADV backups and exam letters are a diligence room, not a deck send.
DocSend Advanced Data Rooms includes three users.
What if a banker already picked Datasite?
Use that room.
Datasite and Intralinks win the banker-run auction.
A second room in parallel is how versions drift.
Which published-price room keeps competing bidders apart?
Any dedicated room that gives each bidder its own audience and its own Q&A thread.
Drive, Dropbox and a shared DocSend link do not.
The setting, not the logo.
Sources
- Datasite, How much does Datasite cost?, retrieved 2026-10-01. No public dollar.
- Intralinks, How much does Intralinks cost?, retrieved 2026-10-01. Quote-only.
- Firmex, pricing, retrieved 2026-10-01. GET A QUOTE. Per-project or subscription.
- iDeals, pricing, retrieved 2026-10-01. Get price. No public dollar.
- FirmRoom, pricing, retrieved 2026-10-01. $395/month, $795/month, $1,195/month. Extra room $250/room/month. Overage $150/GB/month. Month-to-month.
- SecureDocs / Onit, SecureDocs product page, retrieved 2026-10-01. $250/month on the 12-month plan.
- DocSend, pricing, retrieved 2026-10-01. Advanced Data Rooms $180/month billed yearly, 3 users.
- Papermark, pricing.md, retrieved 2026-10-01. Data Rooms €99/month billed yearly, €149/month billed monthly.
- CapLinked, pricing, retrieved 2026-10-01. Team $399/month. Enterprise from $500/month or $5,000/year.
- Cashpian, pricing. One company line from the public catalog. Unlimited rooms. Not per seat.
If the files are already in a folder, grade which row they are on. Cashpian is a gated room for that packet. It is not a listing portal. It does not sell the company or run the deal.