Cerity Partners Expands Wealth Management Services with FBD Acquisition
In a significant move within the wealth management sector, Cerity Partners, a prominent independent wealth management firm based in the United States, announced its merger with Fishman Block + Diamond, LLP (FBD), a well-respected independent accounting, tax, and business advisory firm located in Encino, California. This partnership is set to bolster Cerity Partners' existing capabilities and expand its service offerings for high-net-worth individuals and families in the Los Angeles region.
The integration of Fishman Block + Diamond is particularly impactful, as it contributes an additional 46 experienced professionals to Cerity Partners, strengthening its tax advisory services. This merger is designed to enhance the client experience by offering a wider range of tax, family office, and business management solutions, tailored to meet the complex needs of affluent clientele.
Kurt Miscinski, CEO of Cerity Partners, emphasized the strategic advantage of this collaboration by highlighting the exceptional level of service provided by FBD. He noted, “When it comes to accounting and tax services, our colleagues at FBD bring an unparalleled level of service to meeting high-net-worth clients' complex needs. Their team's collaborative approach to working with individuals and families make them an ideal partner to carry out our client-first commitment.”
The commitment to a client-first approach is a cornerstone of Cerity Partners' philosophy, and this merger aims to further solidify its presence in Los Angeles, a key market for the firm. By partnering with FBD, Cerity can expand its capabilities and explore new avenues for growth, benefiting both clients and employees.
Steven J. Fishman, a partner at Fishman Block + Diamond, expressed enthusiasm about joining forces with Cerity Partners. He stated that the merger aligns with their mission to provide innovative and personalized strategies for clients throughout their financial journeys. Fishman remarked, “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.”
Under the new structure, the firm will be branded as Fishman Block + Diamond, by Cerity Partners, ensuring clients receive familiar service while also accessing the extensive resources of a national wealth management firm.
Cerity Partners has established itself as a leading wealth management provider since its inception in 2009. The firm specializes in serving high and ultra-high-net-worth individuals, their families, businesses, and nonprofit organizations. With this latest acquisition, Cerity Partners is poised to not only maintain but enhance its reputation as a premier service provider in the industry.
The financial advisory firm Republic Capital Group acted as a financial advisor to FBD, while Hunton Andrews Kurth served as legal counsel. This strategic alignment is expected to yield long-term benefits, facilitating stability and growth opportunities for both firms.
As the landscape of wealth management evolves, partnerships like that of Cerity Partners and Fishman Block + Diamond signal a trend towards integrated services that prioritize client needs, promising a future marked by enhanced service and innovative solutions for affluent individuals navigating their complex financial landscapes.