PE-Backed Arax Buys $1.7B Denver RIA  

Arax Investment Partners, a “multi-boutique wealth management platform” backed by private equity firm RedBird Capital Partners, has added SRS Capital Advisors, a Denver-based registered investment advisor with approximately $1.7 billion in assets. 

Founded in 2004, with additional offices in Pittsburgh and Philadelphia, SRS focuses on wealth management services for high-net-worth families and individuals, businesses and foundations. The firm has grown over the past two decades, particularly in the family and individual client space. 

The firm is the latest to join Arax’s multi-boutique strategy, which involves acquiring independent RIAs that operate under their own Form ADVs and are not folded into Ashton Thomas Private Wealth, which Arax acquired last year. 

“The addition of SRS brings another leading wealth management firm with a value of unique and customized approaches to the Arax platform,” said former Raymond James Financial executive Haig Ariyan, CEO of Arax. “As we continue to scale our multi-platform approach to wealth management, this strategic partnership will compound opportunities for advisors and their clients across the Arax platform.” 

SRS will continue to be led by managing directors David Simon, Michael Riordan and Patrick South. 

“Our partnership with Arax promises substantial improvements in service, operations and technology, enabling us to scale operations, particularly our capabilities in financing, estate and tax planning,” added Simon. 

NY-based Arax made its first RIA deal in September 2023, with the acquisition of Scottsdale, AZ-based Ashton Thomas, a registered investment advisory firm with about $3 billion in assets. In April, the firm announced the acquisition of U.S. Capital Wealth Advisors, a hybrid wealth management firm managing approximately $9 billion in assets. 

The firm currently manages approximately $19 billion in assets.