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Cerity Partners, a New York-headquartered registered investment advisor with $103 billion in assets under management, has announced plans to acquire Fishman Block + Diamond, an accounting, tax and business advisory firm in Encino, Calif.
Bạn đang xem: Cerity to Acquire California Accounting Firm
The deal will expand Cerity’s tax advisory services, and add 46 employees to the firm. When it closes, FBD will operate as Fishman Block + Diamond, by Cerity Partners.
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“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 J. Fishman, partner, Fishman Block + Diamond. “Becoming part of Cerity Partners allows us to continue to deliver the same experience our clients are used to, provide long term stability and growth opportunities to our team, and help clients optimize their tax and financial outcomes.”
Republic Capital Group, the M&A advisory firm founded by John Langston, advised FBD on the deal.
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Begun in 2009, Cerity Partners has been minority backed by private equity firm Lightyear Capital since 2017 and majority-owned by Genstar Capital since 2022. With more than 900 employees, including about 700 advisors, Cerity serves more than 15,700 households, approximately 57% of which are considered ultra-wealthy.
This follows a number of deals Cerity has done this year. In April, it acquired Denver-based Agility, owned by Perella Weinberg Partners Capital Management, an outsourced CIO platform. The firm also announced mergers with Janiczek Wealth Management, a Denver-based financial advisory firm serving high and ultra-high-net-worth individuals and families, and SBC Wealth Management, an Indianapolis-based wealth management firm with about $1 billion in client assets.
In September, Cerity acquired Touchdown Ventures, a provider of advisory services for corporate venture programs.
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