Arax Advisory Partners to Acquire $3B Transcend Capital Advisors

Arax Advisory Partners, a unit of Arax Investment Partners, will be acquiring a New Jersey-based RIA managing over $3 billion in client assets. 

Madison, NJ-based Transcend Capital Advisors, which was established in 2019 by former New York Stock Exchange CEO Duncan Niederauer, offers wealth management and investment advisory services to high-net-worth clients. 

The team, which is led by CIO and president Jacob Grossman and head of Fixed Income Robert Brown, also provides banking, estate planning, liquidity and insurance solutions, and philanthropic planning, according to its website. 

Following the transaction, which is expected to close in the third quarter, Transcend Capital Advisors will become the seventh firm to join Arax for the year. 

“When we founded Transcend, we believed clients deserved better: an independent fiduciary committed to putting clients first, delivering objective advice and aligning its interests with those it serves,” Niederauer said. “As we looked to the future, we wanted a partner that would preserve what makes Transcend stand out while expanding what we can deliver to clients.” 

Transcend, which provides services to over 1,000 clients, also financially invests in young professionals in golf through its initiative, Transcend Golf, which was launched in 2022. Transcend provides tournament travel compensation, coaching, equipment, fitness, and nutrition, and has secured a partnership with NIL. 

Transcend also has offices across Michigan, Rhode Island, and Florida. 

Last month, Arax Advisory Partners added Coral Gables, FL-based Millares Asset Management, which oversees about $236 million in assets under management. 

Denver-based Arax Investment Partners manages $43 billion in client assets across 15 states and is backed by private equity firm RedBird Capital Partners. 

Pictured: Duncan Niederauer