In a move to expand its Midwest presence, Arax Investment Partners, a premier wealth management firm, has acquired GFP Private Wealth, a registered investment advisor with $1.5 billion in AUM. Led by Carina Diamond and headquartered in Cleveland, OH, the partnership will support the firm’s next phase of growth.
The addition of GFP complements Arax’s expansive team of expert wealth management professionals, further developing its presence in the Midwest with another well-respected advisory practice. GFP brings a legacy of trusted foresight and premium client service, supported by best-in-class planning and portfolio management. The firm has helped high-net-worth individuals, families and institutions navigate the complexities and opportunities offered by significant wealth for over 50 years, working with clients to shape their legacies across generations and economic cycles.
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GFP will join Arax Advisory Partners (“AAP”), Arax’s platform uniting independent firms that prioritize sophisticated planning strategies alongside investment advice for high-net-worth families, individuals and institutions.
“GFP was built nearly 50 years ago on the belief that independent, high-quality advice can change clients’ lives,” said Diamond, CEO of GFP Private Wealth. “We have been preparing for this next phase of growth, and our partnership with Arax gives our team the depth, infrastructure and strategic support necessary to deliver the personalized experience our clients trust at a scale that matches their evolving needs.”
“Founded in 1978 by Sally Gries as Ohio’s first wholly woman-owned RIA, GFP Private Wealth has built a legacy of trust, quality and principled leadership,” said Haig Ariyan, CEO of Arax Investment Partners. “That legacy, which continues today, aligns perfectly with Arax’s values. We are excited to partner with GFP as the team continues to deliver enduring impact for clients across generations.”
Colchester Partners served as the exclusive financial advisor to GFP Private Wealth on this transaction.
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