Arax Investment Partners (“Arax”), a premier wealth and asset management platform company backed by RedBird Capital Partners (“RedBird”), today announced that it has acquired Cedrus Financial (“Cedrus”), an established RIA headquartered in Littleton, Colorado, managing around $1 billion in assets under management. Financial terms of the transaction were not disclosed.
The acquisition marks the latest addition to Arax’s expanding platform, which partners with leading boutique wealth management firms and financial advisors to unlock strategic business growth and provide complementary investment opportunities, alongside an enhanced client experience. Cedrus will operate within Arax Advisory Partners, which is Arax’s coalition of independent firms focused on specialized services, investment advice and supervisory solutions for institutions, high-net-worth families and elite athletes.
“At Cedrus, our goal has always been meeting the needs of our clients,” said Mark Neely, Managing Partner at Cedrus. “Joining the Arax platform provides access to operational synergies and technological advancements that will support the scaled growth of our business, compounding our ability to deliver premium service to our clients and help them achieve their financial goals.”
“Our multi-boutique wealth management strategy continues to attract the best in the business, supporting the growth and expansion of the Arax platform,” said Haig Ariyan, Chief Executive Officer of Arax. “In Cedrus, we found a partner firm with a unique and personalized approach that prioritizes integrity and collaboration in service of clients – in other words, a natural fit for our platform. We look forward to working with the Cedrus team.”
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Tags: Accounting