Cerity Partners Buys $1B Indianapolis Wealth Manager
Cerity Partners is merging with SBC Wealth Management, a $1 billion Indianapolis-based wealth management firm catering to affluent individuals and businesses. The partnership enhances Cerity Partners’ presence in the Midwest and bolsters its financial planning and investment advisory services. SBC will operate under the Cerity Partners name.
Financial terms of the deal were not disclosed.
“Welcoming their talented team to our partnership strengthens our regional presence in Indianapolis and enhances our ability to deliver custom wealth management services to our clients,” said Claire O’Keefe, partner and head of partner development at Cerity Partners.
SBC is the fourth acquisition Cerity has announced since April, and the second in October. Earlier this month, the firm bought Janiczek Wealth Management, a Denver-based financial advisory firm.
In September, the serial RIA acquirer merged with Chicago-based Touchdown Ventures, an advisory service for corporate venture programs. Touchdown will operate as Cerity Partners Ventures. In April, the firm merged with Denver-based Agility, the outsourced chief investment officer solutions business of investment bank Perella Weinberg Partners.
NYC-based Cerity Partners manages more than $103 billion in assets and is controlled by private equity firm Genstar Capital, which initially invested in 2022. Fellow private equity firm Lightyear Capital also supports the firm.
MarshBerry served as the exclusive financial advisor to SBC and Bose McKinney & Evans provided legal counsel.