Ashton Thomas Private Wealth, an Arax Investment Partners firm, has acquired Honolulu-based Kobo Wealth Conservancy, a registered investment advisor firm, bolstering Ashton Thomas’ presence in the Hawaii market. 

Kobo Wealth Conservancy, founded in 2007, offers “tailored” investment management strategies, retirement planning, portfolio management, and financial advisory services to high-net-worth individuals, pension funds, endowments, and foundations across Hawaii and the mainland.  

Kobo Wealth manages approximately $155 million across 292 accounts, according to the firm’s Form ADV filed in May. 

Following the acquisition, the team joins Ashton Thomas as the Kobo Private Wealth team, with Cris Borden assuming the role of managing wealth advisor, Benny Tran as wealth advisor and portfolio analyst, and Catherine Lau as director of operations and private wealth client services. 

Financial terms of the acquisition were not disclosed. 

“The successful addition of Kobo Wealth to the Ashton Thomas network marks yet another proof point supporting our growth strategy in the financial advisory space,” Haig Ariyan, CEO of Arax Investment Partners and chairman of Ashton Thomas, said. “Arax and Ashton Thomas have created a new model for partnership that is being replicated across our growing national footprint, supporting expansive growth for the best of the best in wealth management with the resources and capabilities of the Arax platform.” 

In June, Ashton Thomas added San Francisco-based Speritas Private Wealth Team, which manages about $900 million in client assets.