Robertson Stephens Wealth Management is making its maiden foray into the greater Chicago market as it establishes ties with a North Barrington-domiciled RIA.
Robertson Stephens announced Tuesday that it is acquiring CAFG Private Wealth, a North Barrington-based registered investment advisor managing over $240 million in assets.
With its latest deal in the Midwest, Robertson Stephens' total assets under management have risen more than $7 billion across 24 locations nationwide.
The acquisition, Robertson Stephens’ fifth deal of 2024 – including notable mergers in Colorado, Oregon, and Connecticut – will also see CAFG Private Wealth founder Tom Chernesky joining Robertson Stephens as a managing director and principal, alongside his team members John Dorn, Megan Mikusa, and Dan Zarzynski.
The new office in North Barrington represents Robertson Stephens' expansion into a strategic region, according to CEO Raj Bhattacharyya.
"CAFG has built an excellent practice by providing each client with a lifetime of financial guidance through personalized financial planning," Bhattacharyya said in a statement. "They are a perfect fit and a great addition to the firm."
The acquisition is intended to combine CAFG’s client-focused approach with Robertson Stephens’ broader wealth management resources, which Chernesky said would be a plus for both his team and their clients.
"We believe this merger with Robertson Stephens allows us to stay at the forefront of technology, open new investment opportunities to our clients, and deliver the best possible wealth solution tailored to our clients' needs," Chernesky said, stresssing that CAFG’s commitment to providing personalized service will remain central to the team’s approach.
The firm now operates in multiple wealth hubs across the US, including key financial hubs like New York, San Francisco, Boston, and West Palm Beach.
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.
