DJIA51654.95 492.55
S&P 5007811.54 55.62
NASDAQ27366.17 196.13
Russell 20002806.98 18.70
German DAX25087.27 264.22
FTSE 10010552.05 110.45
CAC 407803.33 73.64
EuroStoxx 506176.15 53.80
Nikkei 22569030.92 -11.19
Hang Seng24211.35 425.56
Shanghai Comp3813.79 1.89
KOSPI6625.93 -177.97
Bloomberg Comm IDX143.93 0.07
WTI Crude-fut104.43 -0.01
Brent Crude-fut91.66 0.18
Natural Gas3.20 0.04
Gasoline-fut3.27 -0.06
Gold-fut4220.30 72.30
Silver-fut61.11 1.85
Platinum-fut1695.40 50.50
Palladium-fut1150.00 22.50
Copper-fut6.71 0.14
Aluminum-spot3195.00 0.00
Coffee-fut285.15 -2.70
Soybeans-fut1292.25 5.75
Wheat-fut670.75 -12.75
Bitcoin82555.88 1119.02
Ethereum USD2487.71 41.06
Litecoin63.77 1.56
Dogecoin0.08 0.00
EUR/USD1.1184 -0.0007
USD/JPY158.40 0.43
GBP/USD1.3197 -0.0029
USD/CHF0.8330 -0.0010
USD IDX102.23 0.05
US 10-Yr TR5.242 0.009
GER 10-Yr TR3.4654 -0.0201
UK 10-Yr TR5.4088 -0.039
JAP 10-Yr TR3.016 0.002
Fed Funds4 0
SOFR3.87 -0.01
Connect News Money news for every market and every facet, every day.
Connect Money Events Live and virtual events bringing together the best of information and networking.
Financial Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Awards View the A-list of money & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for clear, concise news of maximum importance to the financial services industry.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Topics

Financial Advisory  + Wealth Management  |  January 10, 2023
Genstar-Backed Cerity Partners Merges with $4.8B RIA ARGI Financial
Joe Palmisano
By: Joe Palmisano

Genstar-Backed Cerity Partners Merges with $4.8B RIA ARGI Financial

Cerity Partners has joined forces with ARGI Financial, a $4.8bn Louisville, KY-based registered investment advisor (RIA). The combined firm will operate as Cerity Partners.

Details of the transaction were not disclosed.

Cerity Partners CEO Kurt Miscinski sees the merger with ARGI as an accelerant to the firm’s growth in working with companies. “We are excited to welcome our colleagues from ARGI Financial,” said Miscinski. “Their breadth and depth of talent will accelerate our firm’s growth and development.”

New York-based Cerity Partners, with $45bn in assets under management, switched private equity firms last summer when Genstar purchased a controlling stake in the company from Lightyear Capital.

Cerity Partners has been actively merging with RIA firms over the past two years, but the ARGI transaction is the largest with Genstar’s backing. Previously, the largest transaction since Genstar came on board was in October 2022, when it merged with $4.2bn Los Angeles-based RIA Covington Capital Management.

Founded in 1995, ARGI services approximately 3,000 clients and employs 250 people.

Connect

Inside The Story

Cerity PartnersARGI Financial

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
Order Reprints