Arax Investment Partners Acquires $4B Michigan RIA
Arax Investment Partners, a wealth and asset management platform backed by RedBird Capital Partners, has acquired Schechter Investment Advisors (SIA), a Michigan-based registered investment advisor with $4 billion in assets under management.
This acquisition enhances Arax’s presence in the Midwest and adds to the company’s strategic growth since its launch two and a half years ago. SIA will join Arax Advisory Partners, the company’s network of independent firms.
Schechter’s Advanced Design Life Insurance business will remain a separate, independent entity. Marc Schechter, CEO of Schechter, stated, “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.”
Haig Ariyan, CEO of Arax Investment Partners, highlighted SIA’s strengths in alternative investments and multigenerational wealth planning as key factors in the acquisition. “Schechter and their team have exceptional capabilities in the alternative investment space,” Ariyan said.
This move follows earlier acquisitions, including Cedrus Financial, a Colorado-based RIA with $1 billion in assets. Arax is also actively recruiting advisor teams, recently adding Lance Millar and Stewart Preziose, who managed $900 million at SVB Private.
Arax Investment Partners continues to expand its network of independent firms through Arax Advisory Partners, focusing on tailored investment advice and planning solutions.
