NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Arax Investment Partners (“Arax”), a premier wealth management platform company backed by RedBird Capital Partners (“RedBird”), today announced the addition of SRS Capital Advisors (“SRS”), an established Registered Investment Advisor, to the company’s multi-partner wealth management platform. SRS joins Arax as a key pillar for the platform, bringing best-in-class leadership, strong RIA capabilities and highly sophisticated wealth planning solutions to support Arax’s continued growth and industry-leading positioning.
Founded in 2004, SRS specializes in highly tailored wealth management solutions for high-net-worth families and individuals, businesses and foundations. Headquartered in Denver, Colorado with offices in Pittsburgh and Philadelphia, and managing approximately $1.7 billion in AUM, SRS has achieved significant growth over the past two decades, particularly in the family and individual client space, by advocating for an independent, fiduciary approach and delivering a personalized one on one client experience.
“Our partnership with Arax promises substantial improvements in service, operations and technology, enabling us to scale operations, particularly our capabilities in financing, estate and tax planning,” said David Simon, Managing Director and Co-Founder, SRS Capital Advisors. “Our values of integrity, research and discipline are well matched with Arax’s strategic outlook, allowing us to continue to provide best-in-class services to our clients, both existing and new.”
“The addition of SRS brings another leading wealth management firm with a value of unique and customized approaches to the Arax platform,” added Haig Ariyan, Chief Executive Officer of Arax. “As we continue to scale our multi-platform approach to wealth management, this strategic partnership will compound opportunities for advisors and their clients across the Arax platform.”
SRS will continue to be led by Managing Directors David Simon, Michael Riordan and Patrick South, who have a combined forty years of leadership and experience in the industry, while also enabling a continuous enhancement of services supported by Arax and RedBird.
“This latest announcement is a testament to Arax’s ability to continue building a highly differentiated multi-platform wealth management strategy, attracting the best in the business,” said Mike Zabik, Partner, RedBird. “Pure-play, advisory fee-only RIAs are a core pillar of Arax’s multi-boutique strategy and SRS is key piece of that vertical as we look to continue to scale and diversify.”
UBS Investment Bank served as financial advisor and Fried Frank acted as legal counsel to Arax on the transaction. Waller Helms and Park Sutton Advisors served as financial advisors to SRS Capital Advisors.
About Arax Investment Partners
Arax Investment Partners is a rapidly growing, multi-boutique wealth management platform making strategic control investments in best-in-class operating companies in partnership with their founders and management teams. Arax is focused on making strategic investments and supporting RIAs, hybrid wealth managers, and advisor teams seeking a new growth platform to scale their businesses.
Arax enables its partners and affiliates to be entrepreneurial and focus on delivering industry-leading financial services to their clients. Firms within the Arax network benefit from a seasoned management team with a successful track record of scaling wealth platforms, M&A experience, capital sourcing capabilities and company-building expertise backed by a proven investor with an extensive network, RedBird Capital Partners. Our experienced leaders, multi-platform structure and growth equity partnership create a unique advantage for our partners. Arax currently manages approximately $19 billion of AUM/a. For more information, please go to www.araxpartners.com.
About SRS
Founded in 2004, SRS Capital Advisors, Inc. is a privately owned, independent Registered Investment Advisor specializing in customized investment platforms and highly sophisticated wealth planning solutions for high-net-worth families and individuals, businesses, and foundations. SRS’s unique integrated and comprehensive approach provides the highest possible level of client service to establish lasting partnerships with all their clients while combining comprehensive asset management with leading edge financial planning services. SRS is headquartered in Denver, CO with offices in Pittsburgh, PA and Philadelphia, PA.
About RedBird Capital Partners
RedBird Capital Partners is a private investment firm that builds high-growth companies with strategic capital solutions to founders and entrepreneurs. The firm currently manages $10 billion in assets on behalf of a global group of blue chip institutional and family office investors. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate that focuses on three core industry verticals – Financial Services, Sports and Media & Entertainment. Over his 30-year investment career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic growth companies in their respective industries. For more information, please go to www.redbirdcap.com.
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Dan Gagnier
Gagnier Communications
RedBird@gagnierfc.com
