Arax Investment Partners, the multi-partner wealth platform backed by PE player RedBird Capital continues to strengthen its position in the industry with a strategic addition in Colorado.
On Tuesday, Arax Partners unveiled the integration of SRS Capital Advisors into its wealth management platform, a move set to enhance its service offerings and accelerate growth.
Founded in 2004, SRS Capital Advisors specializes in tailored wealth management solutions for high-net-worth families, individuals, businesses, and foundations.
The firm, headquartered in Denver with additional offices in Pittsburgh and Philadelphia, manages approximately $1.7 billion in assets under management. SRS has experienced significant growth by advocating for an independent, fiduciary approach and offering a personalized client experience.
David Simon, managing director and co-founder of SRS Capital Advisors, expressed enthusiasm about the partnership.
“Our partnership with Arax promises substantial improvements in service, operations and technology, enabling us to scale operations, particularly our capabilities in financing, estate and tax planning,” he said in a statement.
“Our values of integrity, research and discipline are well matched with Arax’s strategic outlook, allowing us to continue to provide best-in-class services to our clients, both existing and new,” the veteran with 24 years of experience said.
Arax CEO Haig Ariyan emphasized the advantages of the integration, noting that SRS’s unique and customized approaches to wealth management enhances Arax’s capabilities while aligning with its broader goal to expand its multi-platform strategy.
“As we continue to scale our multi-platform approach to wealth management, this strategic partnership will compound opportunities for advisors and their clients across the Arax platform.”
SRS will maintain its leadership under managing directors David Simon, Michael Riordan, and Patrick South, who collectively bring forty years of industry experience.
Mike Zabik, partner at RedBird, touted the new integration as proof of Arax’s ability to “attract the best in the business” through its “differentiated multi-platform wealth management strategy.”
“Pure-play, advisory fee-only RIAs are a core pillar of Arax’s multi-boutique strategy and SRS is key piece of that vertical as we look to continue to scale and diversify,” Zabik said.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
