Cerity Partners Bolsters Boston Presence with $4.1B Acquisition

Cerity Partners, a leading independent wealth management firm in the U.S., has announced a significant expansion into the Boston metropolitan area with the acquisition of Prio Wealth, a well-established wealth management firm with $4.1 billion in assets under management (AUM). This strategic move will not only strengthen Cerity Partners' overall AUM but also enhance its wealth management offerings and market presence in the region.



The acquisition of Prio Wealth will add $4.1 billion in AUM to Cerity Partners' existing $120 billion in AUM, bringing the total to $124.1 billion. This increase in assets will further solidify Cerity Partners' position as a leading independent wealth management firm in the U.S. (Source: Cerity Partners' press release, January 9, 2025)

In terms of market presence, the acquisition will provide Cerity Partners with a strong foothold in the Boston metropolitan area. Prio Wealth has been operating in the region for over three decades and has built a solid reputation and client base. By merging with Prio Wealth, Cerity Partners will gain access to this established client base and expand its services to private and corporate clients in the Boston area. This will allow Cerity Partners to better serve its existing clients and attract new clients in the region, further enhancing its market presence. (Source: Cerity Partners' press release, January 9, 2025)

Moreover, the acquisition will provide Cerity Partners with a team of highly credentialed and experienced professionals from Prio Wealth. This team will enable Cerity Partners to continue providing exceptional services to its clients while building its presence in the Boston market. (Source: Cerity Partners' press release, January 9, 2025)

The acquisition of Prio Wealth brings several strategic benefits to Cerity Partners, enhancing its wealth management offerings in the following ways:

1. Expansion into the Boston market: By merging with Prio Wealth, Cerity Partners gains a foothold in the Boston metropolitan area, allowing them to expand their reach and tap into a new client base. This expansion will enable Cerity Partners to better serve private and corporate clients in the region, as stated by Claire O'Keefe, Partner & Head of Partner Development at Cerity Partners: "Prio's highly credentialed and experienced team will allow us to continue providing exceptional services, while building our presence in Boston, a market that continues seeing strong demand for best-in-class wealth management capabilities."
2. Increased assets under management (AUM): The addition of Prio Wealth's $4.1 billion in AUM to Cerity Partners' existing $120 billion in AUM will strengthen Cerity Partners' overall financial position. This increased scale will provide the firm with more resources to invest in technology, talent, and other areas to enhance their wealth management offerings.
3. Complementary expertise and services: Prio Wealth's team of highly credentialed and experienced professionals brings a wealth of knowledge and expertise in family and generational wealth planning, financial and retirement planning, and investment management services. This complements Cerity Partners' existing suite of wealth advisory services, allowing the combined firm to offer a more comprehensive range of services to their clients.
4. Enhanced reputation and brand recognition: The acquisition of Prio Wealth, a well-established and respected wealth management firm in the Boston area, will enhance Cerity Partners' reputation and brand recognition. This can lead to increased client trust and attractiveness to potential new clients, as well as potential partners and talent.
5. Synergies and cost savings: The integration of Prio Wealth's operations into Cerity Partners' existing infrastructure can lead to synergies and cost savings, such as shared technology platforms, back-office functions, and other operational efficiencies. These savings can be reinvested into the business to further enhance Cerity Partners' wealth management offerings.

In summary, the acquisition of Prio Wealth will significantly impact Cerity Partners' overall AUM and market presence in the Boston area by increasing its total AUM to $124.1 billion and strengthening its foothold in the region through access to Prio Wealth's established client base and experienced team of professionals. This strategic move will enhance Cerity Partners' wealth management offerings and market presence, further solidifying its position as a leading independent wealth management firm in the U.S.