The wealth management company Arax Investment Partners has made another acquisition, buying the $9 billion wealth management firm U.S. Capital Wealth Advisors. The acquisition grows Arax’s team to 120 advisers managing more than $16 billion in assets across 12,000 clients.
U.S. Capital Wealth Advisors (USCWA) follows several companies acquired by Arax over the past year: the independent broker-dealer RIA Excel Securities & Associates Inc., Stafford Schauer Private Wealth Team and Ashton Thomas Private Wealth.
USCWA is headquartered in Houston with other Texas offices in Dallas and Austin as well as New York City and Massachusetts. Its 62 advisers have managed $9 billion for more than 5,500 clients. While shifting under Arax, the firm will maintain its branding and core client-facing operations.
Arax launched in 2022 with backing from RedBird Capital Partners, a sports-centric private equity firm with investments in Fenway Sports Group, the Italian soccer club AC Milan, Formula One’s Alpine Racing, the YES Network and LeBron James’ SpringHill Co.
“USCWA was founded on the same principles as Arax, enabling financial advisers to provide expert, holistic solutions to clients that combine the personal touch of a regional firm with capabilities available to larger, national institutions,” Arax CEO Haig Ariyan said in a statement. “Bringing in this multicustodial advisory platform along with the capabilities of U.S. Capital’s broker-dealer will create further opportunities for advisers and their clients across the Arax platform.”