Cerity Partners, the New York-based RIA aggregator, is intensifying its focus on the West Coast wealth market with another strategic merger.
The firm announced Tuesday that it will combine with Fishman Block + Diamond, a full-service accounting, tax, and business advisory firm based in Encino, California.
The partnership will add 46 professionals from Fishman Block + Diamond to Cerity Partners’ existing team. The firm will operate as Fishman Block + Diamond, by Cerity Partners following the close of the deal.
Founded in 2009, Cerity Partners is responsible for a reported $104 billion in client assets nationally through its wealth management, tax advisory, business management, and financial planning services.
“When it comes to accounting and tax services, our colleagues at FBD bring an unparalleled level of service to meeting high-net-worth clients' complex needs,” said Kurt Miscinski, CEO of Cerity Partners. “Their team's collaborative approach to working with individuals and families make them an ideal partner to carry out our client-first commitment, and strengthen our offering in Los Angeles, a key market for Cerity Partners.”
Before welcoming FBD, Cerity Partners strengthened its LA presence in 2022 through a strategic combination with Covington Capital Management, a $4.2 billion RIA. More recently in September this year, it revealed plans to merge with Touchdown Ventures, a leading provider of advisory services for corporate VC programs whose operational footprint also includes Philadelphia, Chicago, and San Francisco.
Fishman Block + Diamond also builds on Cerity Partners’ existing tax preparation capabilities, which it established as a priority in 2021 via a combination with Bingham Osborn & Scarborough, a San Francisco-based firm with $5 billion in client assets.
“Joining Cerity Partners will allow us to build on our mission of delivering sound, personalized and innovative strategies to support our clients at every stage of their financial journey,” said Steven Fishman, partner at Fishman Block + Diamond.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
