Cerity Companions, a New York-headquartered registered funding advisor with $103 billion in belongings beneath administration, has introduced plans to amass Fishman Block + Diamond, an accounting, tax and enterprise advisory agency in Encino, Calif.
The deal will increase Cerity’s tax advisory providers, and add 46 workers to the agency. When it closes, FBD will function as Fishman Block + Diamond, by Cerity Companions.
“Becoming a member of Cerity Companions will enable us to construct on our mission of delivering sound, personalised and modern methods to assist our purchasers at each stage of their monetary journey,” mentioned Steven J. Fishman, accomplice, Fishman Block + Diamond. “Turning into a part of Cerity Companions permits us to proceed to ship the identical expertise our purchasers are used to, present long run stability and development alternatives to our staff, and assist purchasers optimize their tax and monetary outcomes.”
Republic Capital Group, the M&A advisory agency based by John Langston, suggested FBD on the deal.
Begun in 2009, Cerity Companions has been minority backed by non-public fairness agency Lightyear Capital since 2017 and majority-owned by Genstar Capital since 2022. With greater than 900 workers, together with about 700 advisors, Cerity serves greater than 15,700 households, roughly 57% of that are thought of ultra-wealthy.
This follows quite a lot of offers Cerity has carried out this 12 months. In April, it acquired Denver-based Agility, owned by Perella Weinberg Companions Capital Administration, an outsourced CIO platform. The agency additionally introduced mergers with Janiczek Wealth Administration, a Denver-based monetary advisory agency serving excessive and ultra-high-net-worth people and households, and SBC Wealth Administration, an Indianapolis-based wealth administration agency with about $1 billion in consumer belongings.
In September, Cerity acquired Landing Ventures, a supplier of advisory providers for company enterprise applications.
