M and A
Deals Of The Day: The Latest In Wealth Management M&A – Cerity, Graypoint
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The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Cerity Partners, Graypoint
Late last week, Cerity Partners
announced that it is merging with Graypoint, an Albany, New
York–based financial advisory firm. The financial terms were not
disclosed.
Following the closing, Graypoint will operate under the Cerity Partners brand, and Daniel Nolan, president and CEO of Graypoint, will assume the role of partner and vice chairman of Cerity Partners, Cerity said in a statement last Friday.
Graypoint, with $4.5 billion in AuM, serves high net worth and ultra-HNW individuals and institutions. The firm, which also brings significant institutional advisory experience, works with more than 60 nonprofits in New York’s Capital Region and beyond.
Republic Capital Group is advising Graypoint in the combination, and Alston & Bird is serving as legal counsel. Lowenstein Sandler is serving as legal counsel for Cerity Partners.
Cerity was founded in 2009.