Wealth Management Acquisitions in New York

Uniting Wealth Partners, an RIA succession incubator supported by the Wealth Advisor Growth Network, announced that Rick and Alecia Dougherty have joined the firm, bringing their Rochester-based financial advisory practice and $235 million in AUM. The move gives the Doughertys majority ownership of their practice and access to UWP's holding company resources to drive operational efficiencies, broaden services, and support succession planning.

Cerity Partners, a New York-based registered investment advisor, has acquired Graypoint, an Albany wealth-management firm with approximately $4.5 billion in assets under management. Graypoint will operate under the Cerity brand, and its president and CEO Daniel Nolan will join Cerity as a partner and vice chairman; the deal expands Cerity's presence in the Albany/Capital Region and enhances its institutional pedigree.

Mercer, a business of Marsh McLennan, completed the acquisition of SECOR Asset Management to expand its investment capabilities for large institutional clients. The deal brings SECOR’s team of more than 40 professionals and its bespoke portfolio and fiduciary solutions into Mercer’s global investment platform; terms were not disclosed.

Horizon Investments has closed its previously announced acquisition of a majority of the assets of Centre Asset Management, a New York–based active equity manager founded in 2006. The deal strengthens Horizon’s in-house investment capabilities for the financial advisor market and establishes an in-market presence in New York; terms were not disclosed.

Corient has acquired the multi‑family office business of Geller & Company (Geller MFO), a New York City‑based multi‑family office managing $10.4 billion in assets under management and advisement. The acquisition deepens Corient’s family‑office capabilities, expands its presence in a major market, and brings Geller’s team and clients onto Corient’s technology, operational and investment platform.

GTCR, a leading private equity firm, announced a strategic investment to become the majority stakeholder in Winged Keel Group, an independent life insurance brokerage serving high- and ultra-high-net-worth clients, family offices and institutions. The capital will support Winged Keel's continued geographic expansion, technology and product development, and pursuit of growth initiatives including potential add-on acquisitions.

Perigon Wealth Management LLC, an independent RIA with approximately $7.75 billion in client assets, has acquired Creative Financial Planning Inc., a New York-based wealth management firm with roughly $150 million in AUM. Creative Financial Planning's founder Lisa Hayes and COO Daniel Gwizdak will join Perigon as wealth managers and partners; terms were not disclosed.

AlTi Global, Inc. (NASDAQ: ALTI) has completed the acquisition of East End Advisors, an independent advisory firm with approximately $5.6 billion in AUM. The deal expands AlTi’s wealth and advisory capabilities and brings East End’s ultra-high-net-worth family and foundation client relationships onto AlTi’s global platform.

USI Consulting Group (USICG), a national retirement plan consulting and benefits administration firm and a subsidiary of USI Insurance Services, has acquired Burke Group, a Rochester, New York-based retirement plan advisory and actuarial firm. Burke will join USICG but will exit its compensation consulting business as part of the transaction; terms were not disclosed.

Wealth Enhancement Group, a Minneapolis-based independent wealth management firm, has acquired Wealth Management Group, LLC, a hybrid RIA in Rochester, New York, bringing approximately $117 million in client assets. The acquisition adds another western New York office to Wealth Enhancement Group’s network and is intended to expand local presence and provide Wealth Management Group’s clients access to broader resources and services.

Wintrust Financial Corporation has completed the acquisition of Rothschild & Co's North American Asset Management units. The acquired U.S. asset management business will merge into Great Lakes Advisors, LLC, a Wintrust subsidiary. Terms of the transaction were not disclosed.

Clayton, Dubilier & Rice (CD&R), with continued investment from Stone Point Capital, agreed to acquire Focus Financial Partners in an all-cash transaction valuing the company at an enterprise value in excess of $7 billion. Focus stockholders will receive $53 per share; Stone Point will retain a portion of its investment and provide new equity financing to support Focus as a private company, which the buyers say will provide greater financial and operating flexibility to grow the partner-firm network.

Parsonex Enterprises, Inc. acquired E. Magnus Oppenheim & Co., Inc. and E. Magnus Oppenheim Asset Management, Inc., expanding Parsonex’s asset management capabilities and establishing a New York office. The deal, completed January 19, 2023, is intended to broaden Parsonex’s investment management offerings and national reach.

Genstar Capital led a recapitalization of Cerity Partners, with existing investor Lightyear Capital remaining invested. The transaction will support Cerity Partners' continued growth and strategic expansion as the wealth management firm scales its services across the U.S.

Wealth Enhancement Group, a Minneapolis-based independent wealth management firm, has acquired Kings Point Capital Management, an independent RIA with offices in Great Neck, New York and Brentwood, Tennessee. The deal brings Kings Point’s $1.7 billion in client assets onto Wealth Enhancement Group’s platform, increasing the firm’s total client assets to about $55 billion and adding a team of five advisors plus 11 support staff.

Ameriprise Financial, through its Siena Wealth Advisory Group Long Island division, acquired Signalert Asset Management, LLC — the RIA led by Dr. Marvin Appel that manages $265 million in client assets. Appel will join the Siena Wealth team for one year to facilitate a smooth client transition as part of his planned retirement.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Mirsky Financial Management Corporation (MFMC), a Rochester, New York-based wealth management firm with approximately $320 million in AUM. The deal expands Mercer Advisors' Northeast presence and brings MFMC's advisory and in-house tax capabilities and team into Mercer's platform.

Brighton Securities, an employee-owned wealth management firm based in Rochester, New York, acquired Worth Considering, Inc., a fee-only Registered Investment Advisor led by David Peartree. Brighton will fold the Worth Considering team into a new RIA, Brighton Securities Capital Management (BSCM), to expand advisory and portfolio management services for financial advisors and individual clients; financial terms were not disclosed.

OneDigital Investment Advisors, a wholly-owned subsidiary of OneDigital, has acquired Westminster Consulting, LLC to expand its retirement and wealth advisory capabilities. The acquisition adds roughly $6 billion in assets under management across more than 71 retirement plans and brings the Westminster team into OneDigital's offices in Rochester, Syracuse, Princeton and Great River, NY.

Aimia Inc. has closed the previously announced acquisition of Mittleman Brothers LLC, the parent company of Mittleman Investment Management, LLC. As part of the transaction Phil Mittleman was appointed permanent CEO of Aimia and Chris Mittleman named Chief Investment Officer and board member; Aimia said the deal provides a platform to execute its new strategy as an investment holding company.

Cerity Partners, a Chicago-based independent financial advisory firm, announced a merger with New York-based EMM Wealth. The deal brings EMM Wealth's $3 billion AUM and 36 employees into Cerity Partners, expanding Cerity's presence and capabilities in New York and raising Cerity's total AUM to approximately $26 billion.