Arax Investment Partners, a wealth and asset management platform company backed by RedBird Capital Partners (“RedBird”), has acquired Schechter Investment Advisors, the RIA business of Schechter, a boutique wealth advisory and financial services firm based in Birmingham, Michigan, with $4 billion in assets under management (“AUM”) as of May 28, 2025. Financial terms of the transaction were not disclosed.
This deal marks the latest expansion of Arax’s platform, which continues to deepen its presence in high growth markets across the United States through strategic partnerships with leading wealth management advisory teams. Expanding the firm’s footprint and ability to meet client needs in the Midwest, SIA will join Arax Advisory Partners, Arax’s coalition of independent firms focused on specialized services, investment advice and planning solutions for high-net-worth families, individuals and institutions. Schechter’s Advanced Design Life Insurance business will remain a separate, independent entity.
Servicing affluent clients across the United States, Schechter’s veteran advisory team has been providing financial advice to ultra-high-net-worth families for over 80 years. Upon close, the SIA team will merge with Arax Advisory Partners, further strengthening the firm’s capabilities and supporting future growth across the platform. Existing clients will benefit from the expanded range of planning and investment solutions offered by the Arax platform, and advisors will receive the strategic business development opportunities and expertise necessary to grow their business and provide an enhanced overall client experience.
“For almost a century, we have found success by reaching across the financial landscape to identify the strategies and opportunities that best serve our clients and their goals,” said Marc Schechter, CEO of Schechter. “By joining the Arax platform, we benefit from the additional expertise, infrastructure and resources, allowing us to focus even more on what matters most: our clients. We’re excited to take this next step while preserving the relationships and values that have defined us for generations.”
“The Schechter team is known for thoughtful, multi-generational financial planning and sophisticated investment solutions – exactly the type of partner we are looking for as the Arax platform scales,” said Haig Ariyan, CEO of Arax. “Schechter Investment Advisors was a natural fit given our complementary values and aligned strategic visions, as well as Arax’s focus on building capabilities in the Midwest. We feel privileged to partner with a team that brings such a strong legacy and wealth of expertise to our platform.”
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Tags: Firm Management
