Cerity Partners Merges with $1.3B RIA Firm – Financial Advisor IQ

Cerity Partners says it has merged with Boston-based registered investment advisor firm Daintree Advisors.

Founded in 2010, Daintree oversees $1.3 billion in client assets, according to Echelon Partners, which advised Daintree on the transaction.

The addition of Daintree expands Cerity’s footprint on the East Coast and brings its assets to more than $45 billion, according to Cerity.

The combined firm will operate under the Cerity Partners name, the company says.

“Joining together with Cerity Partners accelerates the development of our long-term vision, provides enhanced professional growth opportunities for our team, and allows us to offer greater breadth and depth of services for our clients,” Daintree president Sam Afari–Aikins said in the announcement.

The companies didn’t disclose the financial terms of the deal.

Founded in 2009, Cerity offers estate, financial, tax and compensation and benefit planning, tax preparation, personal financial administration, retirement plan advisory and investment management services to private and corporate customers, the company says.

The recent addition is Cerity’s second deal in Boston, following the 2020 acquisition of the $1.2 billion Bainco International Investors, Echelon says.

Last month, Cerity merged with Houston-based RIA firm Investec Wealth Strategies, which oversees more than $700 million.

And in November, Cerity merged with the $5 billion San Francisco-based RIA Bingham, Osborn & Scarborough, as reported.

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