{"id":649361,"date":"2026-05-05T13:22:08","date_gmt":"2026-05-05T13:22:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/649361\/"},"modified":"2026-05-05T13:22:08","modified_gmt":"2026-05-05T13:22:08","slug":"arax-advisory-buys-1-5b-oak-group-in-new-york","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/649361\/","title":{"rendered":"Arax Advisory Buys $1.5B Oak Group in New York"},"content":{"rendered":"

Arax Advisory Partners is buying a $1.5 billion RIA that is one of the largest practices in New York\u2019s Hudson Valley in a move that will bolster Arax\u2019s presence in the Northeast.<\/p>\n

The Oak Group was founded in 2003 by Ryan Peek and Gary Ben-Ezra and is located in Poughkeepsie, N.Y., with the whole team totaling over 60 years of industry experience. The group is leaving Wells Fargo to join Arax Advisory, a RIA subsidiary of the $43 billion Arax Investment Partners.<\/p>\n

According to Arax CEO Haig Ariyan, the Oak Group was \u201cdefined by its relationship-based approach,\u201d with Ariyan affirming that \u201ctheir values directly align with (Arax\u2019s) vision and strategic growth plan.\u201d<\/p>\n

The Oak Group marks Arax\u2019s second Poughkeepsie-area acquisition in 2026. In late March, Arax bought Omni Financial Advisory Group. The firm was founded by Gregory Bayer, who ran the practice with his son, Braedon and his daughter, Reilly; the team was affiliated with Cetera before moving to Arax, according to SEC records.<\/p>\n

Related:RIA Channel Saw Greatest Advisor Gains in 2025<\/a><\/p>\n

Arax Investment Partners is backed by private equity firm RedBird Capital Partners, which has investments across financial services, but is also known for stakes in sports and media entities, including the Boston Red Sox and A.C. Milan. Arax Advisory Partners is a coalition of independent firms working with institutions, high-net-worth families and athletes.<\/p>\n

In the past year, Arax has been scooping up numerous $1 billion-plus RIAs; last year, it acquired Chesterfield, Mo.-based\u00a0Summit Wealth Strategies<\/a>, with $1 billion in assets, as well as\u00a0Schechter Investment Advisors,<\/a>\u00a0based in the Detroit suburbs. Last January, it acquired\u00a0$1 billion RIA Cedrus Financial<\/a>\u00a0in Littleton, Colo.<\/p>\n

In February,\u00a0Arax acquired GFP Private Wealth<\/a>, a Cleveland-based firm with $1.5 billion in AUM. GFP was rebranded from Gries Financial last year and was previously owned by 4100 Group Financial Services, the wealth vertical for The 4100 Group, which is itself backed by Delta Dental of Michigan.<\/p>\n

In an interview with\u00a0Wealth Management\u00a0earlier this year, Ariyan said the firm would be leaning into recruiting W-2 employee teams looking to leave national platforms. He said he saw an opportunity to bring in W-2 advisors who are interested in transitioning from operating like \u201cfranchises\u201d to starting their own 1099 RIAs, and that he did not see the firm\u2019s deal flow slowing down.<\/p>\n

\u00a0\u201cWe\u2019ve now established ourselves as a very credible partner for financial advisors who want to experience independence as a partner in a boutique,\u201d Ariyan said.<\/p>\n

Related:$6.5B Sowell Management Sells Minority Stake to Merchant<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Arax Advisory Partners is buying a $1.5 billion RIA that is one of the largest practices in New…\n","protected":false},"author":2,"featured_media":649362,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,131,132],"class_list":["post-649361","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-ca","tag-canada","tag-finance","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/649361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=649361"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/649361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/649362"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=649361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=649361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=649361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}