Cerity Partners will be merging with Seattle-based Verus Investments, an institutional investment consultancy firm, which oversees about $1.2 trillion in assets under advisement. 

Verus Investments provides consulting and OCIO services to various institutions, including corporations, nonprofits, and multi-employer and public retirement plans. The firm is 100% employee-owned, with about one-third of its employees acting as owners of the firm. 

Financial terms of the deal, which is expected to close at the end of the first quarter, were not disclosed. 

Following the merger, Verus will adopt Cerity Partners’ branding and name, along with its staffers. The combined entity will gain access to research, technology, and data, Cerity said. 

Verus, which was founded in 1986, initially as Wurts, Johnson & Company, was rebranded to its current title in 2015. While the firm is headquartered in Seattle, the company has offices in Los Angeles, San Francisco, and Pittsburgh. 

“By combining our institutional expertise with Cerity Partners’ scale and resources, our clients will continue to receive the personalized, fiduciary-driven guidance they rely upon, from the same professionals they have trusted for years, now supported by an even broader set of capabilities and expertise,” Jeffrey MacLean, CEO of Verus, said. 

Recently, Cerity Partners announced its merger with Texas-based Austin Private Wealth, an independent wealth manager, as the RIA aims to further expand its presence in the Austin market. 

In December, the RIA also purchased an undisclosed minority stake in Nasdaq Private Market, as firms are further exploring private market opportunities for their clients.  

As part of the partnership, Cerity Partners will serve as the sole wealth partner to Nasdaq Private Market high-net-worth and ultra-high-net-worth clients that are participating in tender programs. 

New York City-based Cerity Partners, which is majority-owned by private equity firm Genstar Capital, says its latest addition will boost its total client assets to $1.3 trillion. 

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Pictured: Jeffrey MacLean