Cerity Partners acquires $1.4B in advisory teams from Shufro Rose & Co.
What happened
Cerity Partners is adding $1.4 billion in advisory teams from Shufro Rose & Co. The Contant-Leit and Wacht Groups are among the teams joining Cerity Partners under its brand. Houlihan Lokey represented these groups during the transition. This move follows two other advisory teams that left Shufro Rose & Co. for Wealth Enhancement in July.
From wealthmanagement.com
Why it matters
The acquisition represents a significant consolidation of advisory teams and client assets within the wealth management industry. Cerity Partners, which manages over $160 billion in client assets, is expanding its operational scale and client base through this transaction.
From wealthmanagement.com
Who's involved
- Houlihan LokeyRepresented advisory groups during the transition.
- Lowenstein SandlerProvided legal counsel to Cerity Partners.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Houlihan LokeySpeculative
Houlihan Lokey might see increased revenue from advisory fees following the successful transition of client groups.
- Lowenstein SandlerSpeculative
Lowenstein Sandler might see increased funding from legal fees related to the acquisition of advisory teams.
- New YorkSpeculative
The New York financial market might see increased demand for wealth management services due to the expansion of client assets.
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The entities involved
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Houlihan Lokey
American multinational investment bank and financial services company
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Lowenstein Sandler
American law firm