Cerity Partners starts the year with a significant acquisition, adding Prio Wealth, a Boston-based registered investment advisor with $4.1 billion in assets under management (AUM).
This acquisition strengthens Cerity’s presence in New England and brings in a team aligned with its philosophy of holistic wealth management, says Claire O’Keefe, head of partner development at Cerity Partners.
“Joining forces with Prio Wealth reaffirms our commitment to delivering tailored, integrated wealth advisory services that address every aspect of our clients’ financial needs,” O’Keefe states. “Prio’s seasoned and credentialed team will enhance our ability to provide exceptional service while deepening our footprint in Boston, a key market with growing demand for premier wealth management solutions.”
Cerity has pursued an aggressive growth strategy through acquisitions. Recent deals include two RIAs, each managing around $1 billion in assets, acquired last fall, as well as a $4.8 billion firm integrated earlier in 2023.
Headquartered in New York, Cerity Partners was ranked No. 7 on Barron’s 2024 list of RIA megafirms. According to its latest Form ADV filing, the firm manages $80.6 billion in assets.
Prio Wealth caters primarily to high-net-worth individuals, who represent the majority of its client base and assets under management. Its Form ADV filing reports 464 high-net-worth clients, alongside 175 less affluent individuals.
The firm also serves 33 charitable organizations, several businesses, retirement plans, and one government entity, demonstrating its broad reach and impact.
Operating under a fee-only model, Prio Wealth charges clients either a percentage of AUM or a fixed fee. Beyond portfolio management, the firm offers comprehensive financial planning services.
“For over 30 years, our mission has been to empower clients by focusing not only on what they’re invested in but also on what they’re investing for,” says John Bratschi, managing partner at Prio Wealth. “Joining Cerity Partners enables us to continue this mission while giving clients broader access to advisory solutions and strategies that align their financial goals with their lives.”
With this acquisition, Cerity Partners solidifies its position as a leader in the wealth advisory space, demonstrating its ability to integrate high-performing teams and expand its capabilities to meet the needs of affluent clients. The addition of Prio Wealth underscores Cerity’s dedication to delivering personalized, forward-thinking financial solutions in key markets.
