Cerity Partners, a New York-based RIA with roughly $162 billion in client assets, has agreed to merge with two advisory practices from Shufro Rose & Co., a move that adds about $1.4 billion in assets under management and strengthens its foothold in one of the nation's most competitive wealth-management markets.
The transaction brings the Contant-Leit Group and the Wacht Group under the Cerity Partners umbrella. The teams are led by John Contant, Stephen Leit, and Harvey Wacht, who have served clients for decades—Contant since 1984, Leit since 1996, and Wacht since 2001. Their client relationships average 21 years in duration, reflecting a multigenerational approach to wealth management.
In a statement, Contant emphasized the cultural alignment between the two firms. "We couldn't be more excited to join Cerity Partners, a firm that shares the values that have guided our practice for decades—independence, diligence, and always putting clients first," he said. "As a part of Cerity Partners, our clients will receive the same personalized guidance from the same trusted team, now backed by a broader set of resources, expertise, and capabilities."
The incoming practices offer a wide range of services, including retirement planning, estate and legacy planning, insurance, tax strategy, and investment management, serving multiple generations of clients. Shufro Rose, founded in 1938, has operated as an independent advisory firm through various ownership changes and market cycles.
Claire O'Keefe, Head of Partner Development at Cerity Partners, highlighted the strategic fit. "Their deep, multigenerational client relationships, commitment to their colleagues, and their presence in New York will strengthen our ability to serve individuals, families, and businesses," she said.
The merger is part of Cerity Partners' aggressive acquisition strategy. Backed by private equity firm Genstar Capital, the firm has completed six transactions in 2026, making it one of the most active acquirers in the RIA space. Earlier this year, Cerity merged with Verus Investments, a Seattle-based institutional consulting firm advising on approximately $1.2 trillion in assets, significantly broadening its institutional capabilities.
The deal also comes amid a record-breaking period for RIA M&A. According to a midyear report from Berkshire Global Advisors cited by InvestmentNews, 225 advisory transactions were completed in the first half of 2026 involving firms with at least $100 million in assets—a jump of nearly 40% from the same period in 2025.
For Cerity Partners, the Shufro Rose merger deepens its presence in its home market. The firm is headquartered in New York City and has been expanding locally while also growing nationally into markets such as Texas, Maryland, Oregon, and the Pacific Northwest. This latest move follows its acquisition of Gilbert & Cook, a $2 billion Iowa RIA, earlier in 2026.
Houlihan Lokey advised the Contant-Leit and Wacht Groups on the transaction. Katz Teller is providing legal counsel to the incoming practices, while Lowenstein Sandler is acting as legal counsel to Cerity Partners. Financial terms were not disclosed.
