Arax Investment Partners, a wealth and asset management platform, has acquired a New York-based registered investment advisor firm. 

Poughkeepsie, NY-based Omni Financial Advisory Group, founded by financial planner Gregory Bayer, provides “personalized” investment management, retirement planning, financial planning, wealth management, and estate and tax planning to high-net-worth and multi-generational clients. 

Bayer is joined by his children, Braedon and Reilly, who serve as a financial planner and client service coordinator, respectively. The team is also supported by operations manager Helen Pascocello, according to the firm’s website. 

The wealth management firm was previously affiliated with Cetera Advisors, prior to joining Arax, according to the eldest Bayer’s BrokerCheck profile. 

Omni Financial will be joining Arax’s Advisory Partners in-house RIA channel, which is a structure that allows RIAs to retain their legal independence while tapping shared resources and infrastructure. 

Arax Advisory Partners managed about $11 billion for more than 19,000 accounts, according to its Form ADV last updated in February. 

Through the acquisition, Omni Financial will gain access to Arax’s services and financial solutions, Arax said. 

“Partnering with Arax prepares us for sustainable long-term growth, expanding our offerings and capabilities without losing touch with the core values that have defined this firm for decades,” said Gregory Bayer. 

In February, Arax Investment Partners acquired Cleveland, OH-based GFP Private Wealth, which oversees about $1.5 billion in assets under management and has also joinedArax’s Advisory Partners. 

Denver-based Arax Investment Partners, which was founded by CEO Haig Ariyan, is backed by private equity firm RedBird Capital Partners.