Cerity Partners, a New York-based registered investment advisor with more than $206 billion in assets under management, said Thursday it has agreed to absorb three separate wealth management firms in a single transaction wave. The deals bring approximately $2 billion in combined client assets and extend the firm's reach into the Bay Area, the greater Atlanta market, and, for the first time, Minneapolis.
The largest of the three is Palo Alto, California-based Cornerstone Capital, which contributes about $1.4 billion in AUM. Founded in 1978, Cornerstone serves high-net-worth individuals, families, charitable foundations, and endowments, offering investment management, financial planning, and coordinated estate and tax strategies. The firm's nearly five-decade history gives Cerity a deeper foothold in Silicon Valley, where it already had a presence.
Echo Wealth Management, based in the Minneapolis suburb of Edina, adds roughly $337 million. Founded in 2015 by advisor Echo Huang, the firm specializes in equity compensation planning for corporate executives, including restricted stock units, employee stock purchase plans, and deferred compensation. The acquisition marks Cerity's entry into the Twin Cities market, which the firm's partner and head of partner development, Claire O'Keefe, called a priority growth area.
Compass Wealth Management, established in 2011 by Robert Amato and based in the Atlanta area, brings approximately $340 million in assets. The fee-only practice serves corporate executives, business owners, and retirees with holistic planning that includes investment management, tax and estate planning, and charitable giving strategies. All three firms will operate under the Cerity Partners name, and their client teams are expected to remain in place.
The deals continue a busy 2026 for Cerity, which earlier this year acquired Austin Private Wealth in Texas and SOL Capital Management in Maryland. In February, it merged with Seattle-based Verus Investments, an institutional consulting firm overseeing about $1.2 trillion in client assets. According to Echelon Partners' first-quarter 2026 RIA M&A Deal Report, Cerity completed five transactions in the first quarter alone, totaling roughly $22.7 billion in acquired assets, with three of those involving sellers with more than $1 billion.
Cerity's expansion has been fueled in part by private equity. In 2022, Lightyear Capital rolled part of its equity into Genstar Capital's stake in Cerity rather than exiting, a move Echelon highlighted as an early example of a sponsor staying invested through a subsequent ownership cycle. Echelon's second-quarter report noted that seven recapitalization events this year were direct transactions by financial acquirers, underscoring the confidence private equity investors have in the continued consolidation of the RIA industry.
The latest acquisitions also align with Cerity's recent focus on equity compensation specialists. In July, the firm agreed to merge with Portland-based Cordant Wealth Partners, a $371 million practice that advises technology employees on stock options and other equity-related matters. The addition of Echo, which has a similar specialty, reinforces that niche.
Industry-wide, RIA M&A activity is on pace for a record year. Echelon projects roughly 500 transactions for 2026, which would surpass the 466 deals completed in 2025. Cerity's aggressive acquisition strategy, including its September deal for Iowa-based Gilbert & Cook and its acquisition of two Manhattan advisory teams from Shufro Rose, positions it among the most active consolidators in the space.
For the sellers, the rationale centers on preserving client relationships while gaining access to broader resources. Brad Dinsmore, a partner at Cornerstone, said the firm sought a buyer that would maintain its approach while expanding its capabilities. Echo's Huang echoed that sentiment, noting that clients will continue working with the same team while gaining access to Cerity's specialized services. Amato of Compass emphasized the combination of boutique personal attention with the scale of a larger organization.
