Cerity Partners Expands with $1.8B RIA Acquisition in SoCal

Cerity Partners, a New York-based firm, has revealed plans to acquire West Coast Financial, a registered investment advisory (RIA) firm rooted in Santa Barbara, CA. West Coast Financial currently manages nearly $1.84 billion in client assets, spanning over 2,000 accounts, according to its latest Form ADV filing with the Securities and Exchange Commission on March 20.

Following the acquisition, the Santa Barbara outfit will transition to operating under the Cerity Partners brand. Details of the financial terms, however, remain undisclosed.

Cerity expects the integration of West Coast Financial to enhance its expertise in wealth transfers, retirement planning, tax and charitable strategies, and to fast-track its alternative investment options, particularly in real estate, for clients.

West Coast Financial traces its origins to 1983, when a predecessor firm was established and registered with the SEC, per regulatory filings. Today, it’s led by Steven Weintraub, the firm’s primary owner and managing member, who joined in 1997.

“Merging with Cerity Partners will allow us to continue building on our mission, while providing clients with expanded access to financial solutions and strategies to bring their money and life into sync,” Weintraub said in a statement in Cerity’s announcement.

Houlihan Lokey served as the exclusive financial advisor to West Coast and Reicker, Pfau, Pyle & McRoy provided legal counsel.

Cerity, an active acquirer of RIAs backed by private equity firms Genstar Capital and Lightyear Capital, announced in January the acquisition of Prio Wealth, a Boston-based wealth management firm overseeing $4.1 billion in assets. Prior to that the firm acquired wealth manager Fishman Block + Diamond, LLP