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.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
The two firms violated the Advisers Act and Reg BI by making misleading statements and failing to disclose conflicts to retail and retirement plan investors, according to the regulator.
Elsewhere, two breakaway teams from Morgan Stanley and Merrill unite to form a $2 billion RIA, while a Texas-based independent merges with a Bay Area advisory practice.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
