Cerity Partners has merged with Los Altos, California-based wealth management firm Sullivan & Serwitz. With this merger, Cerity Partners now manages approximately $26 billion in assets.
S&S was co-founded by Robert Sullivan and Marshall Serwitz in 1989 and advises on $1 billion in assets under management. The firm offers holistic wealth management, including financial planning and investment advisory services, to affluent individuals and families across the country. S&S merged with Cerity Partners with the intent of expanding service offerings available to its clients and to ensure a sound succession plan for its clients and colleagues.
"Over the last 30 years, we have been fortunate to achieve strong growth and secure positive outcomes for our clients, and we feel Cerity Partners is the best fit for our practice to continue this growth," said Robert Sullivan in a statement. "More importantly, Cerity Partners aligns with our firm culturally and philosophically; we both strongly believe advisors should always put the client first and not operate under a product-focused agenda."
Cerity Partners currently has offices in Orange County and Los Angeles. The team from S&S will provide presence and growth opportunities in Northern California and started operating under the Cerity Partners' banner on Jan. 1.
"We welcome our new colleagues from Sullivan & Serwitz and look forward to growing together as a unified firm," said Cerity Partners CEO and President Kurt Miscinski in a statement. "As with any merger, we seek strong cultural alignment. Looking at S&S's 30-year history, it was apparent that the firm shares our passion for and commitment to client service."
Cerity Partners was founded in 2009 with the mission to positively impact the financial well-being of its clients by delivering objective financial advice and oversight. The firm operates under a private partnership model and has built a strong reputation for serving high-net-worth individuals and their families. ECHELON Partners served as financial adviser to Sullivan & Serwitz for this transaction.