Financial services · United States
Financial services rollup map
14 US segments, each rated for rollup fit. Every number links to its public source.
Segments
Lending & Servicing
- Non-bank loan servicersActiveStrategic buyers and investment funds are actively buying servicers and servicing rights, and the large end is already concentrated, but a long tail of small servicers remains and change-of-control friction is high.
- Collection agencies and accounts receivable managementActiveNamed sponsors are buying collection agencies and the small-firm tail is large, but the industry is shrinking and carries real regulatory, litigation and headline risk.
- Mortgage brokers and non-bank originatorsNot a fitThere are many small firms, but broker revenue is per-loan, swings hard with rates, and leaves with the loan officers, so a classic buy-and-build has little durable revenue to buy.
Rollup stages
- Open
- Fragmented, with little sponsor activity so far.
- Active
- Sponsors are buying, and many independent firms remain.
- Crowded
- Many sponsor-backed buyers compete for the same firms.
- Not a fit
- The structure of the segment works against a rollup.
Stages and ratings are MigrateForce's view. Reviewed October 29, 2026.
Not covered
Banks
Under the Federal Reserve's control rule, a company that controls a bank generally becomes subject to the Board's rules and regulations. Control is judged on factors that include the company's total equity investment, shared directors or officers, and business ties with the bank.
Source: Board of Governors of the Federal Reserve System, Jan 30, 2020
Exchanges & market infrastructure
A national securities exchange must register with the SEC under the Securities Exchange Act. The SEC publishes a list of registered exchanges.
Source: U.S. Securities and Exchange Commission, Division of Trading and Markets, Jan 7, 2026
Private equity firms
One GP stakes platform makes non-control investments in alternative asset managers. A non-control stake is a minority investment, not a buy-and-build of whole firms.
Source: Goldman Sachs Asset Management
Digital asset custody & exchanges
New York requires a BitLicense or a state banking charter, such as a limited purpose trust company, to run a virtual currency business there. The state rule also bars any change of control of a licensee without the superintendent's prior written approval.
Source: New York State Department of Financial Services; Legal Information Institute, Cornell Law School (text of 23 NYCRR Part 200, NYDFS)