Cerity Partners has concluded its merger with San Francisco-based Bingham, Osborn & Scarborough (B|O|S), creating a $40bn wealth management firm.
Financial terms of the deal have not been disclosed.
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By GlobalDataThe combined firm will operate under the Cerity Partners name.
The merger expands Cerity Partners’s West Coast presence and positions it as a full-service national firm.
Cerity Partners CEO and president Kurt Miscinski said: “The merger allows us to enhance our clients’ experience and broaden the breadth and depth of our expertise. It also significantly deepens our presence in and commitment to San Francisco and Silicon Valley, a region that continues to create meaningful wealth for many individuals and families.”
Founded in 2009, Cerity Partners provides estate, financial, tax, and compensation and benefit planning, tax preparation, personal financial administration, retirement plan advisory, and investment management services to its private and corporate clientele.
It has 15 offices across the country.
B|O|S CEO Kevin Dorwin said: “Joining together with Cerity Partners accelerates the development of our long-term vision and allows us to offer a greater breadth and depth of services.
“Clients will benefit from our combined investment intelligence, robust technology infrastructure, enhanced tax and wealth management advice, and greater scale. Together, this merger places us among the top wealth advisory firms in the country.”
Under the agreement, Dorwin will become Cerity Partners’ San Francisco market leader.
B|O|S president and COO Carol Benz will assume the role of chief people officer at the combined firm.
In this newly created role, Benz will oversee the hiring, development, diversity, engagement, education, and growth of the company’s people and culture.
B|O|S principal David Newson will become chief marketing officer with responsibility to develop new client relationships.
Last year, Cerity Partners combined business with California- headquartered wealth manager Sullivan & Serwitz.
