Cerity Partners Enters Iowa With $2B Gilbert & Cook
Cerity Partners, a New York-based registered investment advisor with $170 billion in client assets as of March 31, has penned an agreement to acquire Gilbert & Cook, a West Des Moines, Iowa-based wealth management firm with about $2 billion in client assets.
The deal, expected to close at the end of this month, marks Cerity’s entry into the Iowa market. Gilbert & Cook will have access to more capabilities, including financial planning, investment management, business owner advisory, multigenerational estate planning and private family office services.
Gilbert & Cook was founded in 1993 by Linda Cook, managing partner of the firm, with a focus on serving individuals, families and business owners.
“For more than 30 years, our mission has been centered on building relationships—with our clients, with one another and with the community we are proud to call home—to help clients navigate life’s financial decisions through trusted and thoughtful guidance,” Cook said in a statement. “Joining Cerity Partners is a natural next step in that journey.”
Houlihan Lokey advised Gilbert & Cook on the deal with Cerity, a New York-based firm majority-owned by private equity firm Genstar Capital, with minority ownership from employees and Lightyear Capital.
This follows news in July that Cerity acquired Portland-based Cordant Wealth Partners, an advisory firm with about $370 million in client assets.
Cerity, which was founded in 2009, has been an active acquirer in the wealth management sector.
