Rise Growth Makes Debut Investment in $10B Bleakley Financial Group

Rise Growth Partners, a financial partner for registered investment advisors launched by founder and former CEO of United Capital, Joe Duran, announced its debut strategic minority investment in Bleakley Financial Group, a wealth advisory and financial planning firm and LPL Financial affiliate with nearly $10 billion in assets.

“For a long time, we have considered bringing on a partner to accelerate our evolution into a nationally recognized firm. In Rise, we found a strategic partner with not only capital but also the expertise to expand a national firm that attracts top-tier growth-oriented advisors,” said Andy Schwartz, principal at Bleakley.

In February, Rise announced a $250 million investment from private equity firm Charlesbank Capital Partners, supporting its efforts to invest in select RIAs nationwide. Rise is actively deploying its capital and plans to continue investing in select firms. Once invested, it provides them with growth capital, operational guidance, and acquisition expertise.

At the time, Rise said it would focus on acquiring stakes in “high growth” RIAs with assets under management ranging from approximately $1 billion to more than $5 billion.

“From the inception of Rise and with each new addition to our team, our focus has never been solely on deal-making, but on making a meaningful impact,” added Joe Duran, managing partner of Rise.

Founded in 1985 as a practice affiliated with Northwestern Mutual, Fairfield, N.J.-based Bleakley Financial Group is 100% owned by Scott and Andy Schwartz, Michael Axelrod and Jack Cooney.

The practice transitioned to Private Advisor Group, an office of supervisory jurisdiction of LPL Financial, following its departure from Northwestern Mutual. However, they elected to establish their own RIA in 2022, while maintaining their partnership with LPL.