Registered funding advisor Cerity Companions has acquired AJ Wealth, an RIA managing over $2 billion in consumer belongings and specializing in household workplace companies for ultra-high-net-worth households, Cerity stated Wednesday.

Each corporations have their headquarters in New York Metropolis. The mixed agency will function below the Cerity Companions title, it stated.

Phrases of the transaction weren’t disclosed, and Cerity didn’t instantly reply to a request for touch upon Thursday.

AJ Wealth was suggested on the transaction by Park Sutton Advisors, which manages belongings totaling $65 billion, Cerity stated.

For Cerity, the mixture expands its functionality in “serving ultra-high-net-worth purchasers with advanced wealth administration wants,” it stated. “Considered one of AJ Wealth’s distinctive areas of experience is the advanced property and tax planning points for purchasers with carried pursuits of their agency’s funding funds,” in response to Cerity.

“AJ Wealth has vital experience working with companions and founders of hedge funds, personal fairness and enterprise capital corporations, enterprise homeowners, and C-suite executives,” Cerity identified.

AJ Wealth was based in 2012 by Andrew Cooper and Justyn Volesko, who beforehand labored in Goldman Sachs’ Household Workplace unit. Cerity was based in 2009.

Kurt Miscinski, Cerity CEO and president, sees the mixture with AJ Wealth as an accelerant to the agency’s progress in working with exceptionally rich people and households.

AJ Wealth’s “extremely personalized household workplace service is exclusive in our trade,” in response to Miscinski. “Our merger permits us to broaden the depth of our service providing and can speed up our agency’s progress in an vital and increasing consumer section,” he stated in a press release.