Arax Financial investment Companions, a wealth management platform corporation backed by RedBird Funds Companions, declared the addition of U.S. Funds Prosperity Advisors – an independent wealth administration business headquartered in Houston, Texas, and running somewhere around $9 billion in belongings less than management and/or administration throughout in excess of 5,500 clientele and 62 advisers.
USCWA has a strong footprint in Texas throughout Houston, Austin, Dallas and Georgetown, as nicely as workplaces in New York City and Massachusetts. According to Arax, the agency brings meaningful scale to the Arax system, as properly as robust running infrastructure and whole-support prosperity management abilities, including monetary arranging, investments, and insurance policies to support higher-internet-truly worth and ultra-higher-net-worthy of clientele. In only 18 months, Arax’s boutique platform has developed to 120 advisers serving about 12,000 purchasers that characterize much more than $16 billion of AUM/A.
“USCWA was founded on the identical ideas as Arax, enabling economical advisers to present expert, holistic methods to clients that mix the private touch of a regional organization with capabilities offered to greater, nationwide institutions,” stated Haig Ariyan, main government officer of Arax. “Bringing in this multi-custodial advisory system along with the abilities of U.S. Capital’s broker-vendor will make even more opportunities for advisers and their consumers throughout the Arax system.”
U.S. Capital Advisors, co-established by Pat Mendenhall and Dave King, put together its massive advisory wealth organization with Legacy A single Economic in 2021 to kind USCWA beneath the leadership of Jim Fortescue, Mendenhall and King. In signing up for Arax, USCWA will retain their branding, main adviser and shopper-experiencing functions.
Arax will go on to work as a multi-boutique system delivering shared products and services throughout back-and-middle office features, as effectively as boosting natural and organic and inorganic advancement by means of new product and provider capabilities, cross-promoting and supporting mergers and acquisitions sourcing and execution for critical groups at USCWA, Ashton Thomas, and the other advisory corporations presently partnered on the platform.
“We strive to present consumers and advisory teams the innovative financial aid, route, and alternatives they want with an unequalled client-centric practical experience. We are energized to go on this core concentrate as part of the Arax group,” claimed Mendenhall, co-running companion at USCWA. “Arax’s partnership approach and versatile platform established it aside in the market place and will aid our crew in providing outstanding success for clients.”
RedBird Funds Partners is a non-public investment business that builds high-progress companies with strategic funds solutions to founders and business people. The firm presently manages $10 billion in belongings on behalf of a global group of blue chip institutional and family members office environment investors.
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