Cerity Partners is striking while the iron is hot as it unveils its latest merger deal with a Midwest wealth firm.
On Tuesday, the top-ranked RIA announced its merger with SBC Wealth Management, an Indianapolis firm with a focus on serving affluent individuals and businesses. This merger will bring an additional $1 billion in AUM to Cerity Partners, further strengthening its foothold in the Midwest.
Following the deal, SBC Wealth Management, which has operated for over 40 years, will transition to operate under the Cerity Partners name. This move is aimed at expanding both firms' capabilities in financial planning and investment advisory services, while continuing to serve clients with a personalized approach.
“SBC’s longstanding experience and commitment to personalized client service, colleague development and their community aligns perfectly with Cerity Partners’ core values,” Claire O’Keefe, partner and head of partner development at Cerity Partners said in a statement Tuesday. “Welcoming their talented team to our partnership strengthens our regional presence in Indianapolis and enhances our ability to deliver custom wealth management services to our clients.”
Patrick Morrow, CEO of SBC Wealth Management, framed the agreement in terms of the philosophical alignment between the two firms.
“Merging with Cerity Partners is a natural progression of our 40-year mission to deliver exceptional wealth management solutions,” said Morrow, a 30-year veteran of the industry. “Our shared commitment to a client-first approach makes this partnership an ideal fit.”
Cerity Partners' transaction in Indianapolis is the latest in what's shaping up to be a busy calendar, following a merger with specialist VC firm to form Cerity Partners Ventures last month and, more recently last week, a deal with Janiczek Wealth Management, a Denver, Colorado-based firm catering to high-net-worth and ultra-high-net-worth clients.
In September, the firm also hired industry veteran Todd Cassler as its first-ever chief growth officer, a role it said would be focused solely on driving organic growth within the organization.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
