Cerity Partners, a New York-based aggregator of registered investment advisors, announced Tuesday that it merged with ARGI Financial, a wealth management firm that oversees $4.8 billion in assets, according to its latest Form ADV.
ARGI, based in Louisville, Kentucky, was founded in 1995 and has 250 professionals.
Cerity said in a statement that the deal will enhance its “national footprint and workplace financial planning offering,” and noted that many of ARGI’s client relationships were “developed through corporate relationships with Fortune 500 companies.”
Cerity oversees $49.5 billion in assets, according to its latest Form ADV.
Last June, private equity firm Genstar Capital led a recapitalization of Cerity.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
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Two firms land teams managing more than $1.1 billion in combined assets from Kestra and Edward Jones.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
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