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Cerity Merges With Three US Wealth Houses, Totaling $2.07 Billion AuM
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The US wealth management group has merged with a trio of firms across the country.
Cerity Partners has clocked up three mergers in recent days: Compass Wealth Management ($320 million AuM); Cornerstone Capital ($1.4 billion), and Echo Wealth Management ($337 million).
Compass (founded in 2011) is based in the greater Atlanta market; Cornerstone (1978) operates in the Palo Alto area of California, and Echo (2015) operates in Minneapolis.
DeVoe represented Compass in its combination, and Miller Johnson provided legal counsel. Lowenstein Sandler provided legal counsel to Cerity Partners.
In the Cornerstone merger, Advice Dynamics Partners represented Cornerstone NS and HansonBridgett provided legal counsel. Lowenstein Sandler advised Cerity. On the Echo deal, Turkey Hill Management represented Echo Wealth Management and Troutman Pepper Locke provided legal counsel. Morgan, Lewis & Bockius provided legal counsel to Cerity Partners on that transaction.
Specific financial terms of these mergers weren’t disclosed.
Founded in 2009, Cerity Partners serves high net worth and ultra-HNW individuals, families, business owners and institutions. delivering financial planning, investment, tax and retirement solutions.