What You Must Know
- Including AJ Wealth expands Cerity’s capacity to serve ultra-high-net-worth purchasers with complicated wealth administration wants, the agency says.
- The mixed agency will function underneath the Cerity Companions identify.
- Phrases of the transaction weren’t instantly disclosed.
Registered funding advisor Cerity Companions has acquired AJ Wealth, an RIA managing over $2 billion in shopper property and specializing in household workplace providers for ultra-high-net-worth households, Cerity stated Wednesday.
Each corporations have their headquarters in New York Metropolis. The mixed agency will function underneath the Cerity Companions identify, it stated.
Phrases of the transaction weren’t disclosed, and Cerity didn’t instantly reply to a request for touch upon Thursday.
AJ Wealth was suggested on the transaction by Park Sutton Advisors, which manages property totaling $65 billion, Cerity stated.
For Cerity, the mix expands its functionality in “serving ultra-high-net-worth purchasers with complicated wealth administration wants,” it stated. “Certainly one of AJ Wealth’s distinctive areas of experience is the complicated property and tax planning points for purchasers with carried pursuits of their agency’s funding funds,” in response to Cerity.
“AJ Wealth has important experience working with companions and founders of hedge funds, non-public fairness and enterprise capital corporations, enterprise homeowners, and C-suite executives,” Cerity identified.
AJ Wealth was based in 2012 by Andrew Cooper and Justyn Volesko, who beforehand labored in Goldman Sachs’ Household Workplace unit. Cerity was based in 2009.
Kurt Miscinski, Cerity CEO and president, sees the mix with AJ Wealth as an accelerant to the agency’s development in working with exceptionally rich people and households.
AJ Wealth’s “extremely personalized household workplace service is exclusive in our trade,” in response to Miscinski. “Our merger permits us to broaden the depth of our service providing and can speed up our agency’s development in an necessary and increasing shopper phase,” he stated in an announcement.
