Corient, a Miami-based RIA aggregator overseeing around $535 billion in client assets, has agreed to acquire a New York City-based RIA with almost $5 billion in assets, according to an announcement on Tuesday.
Seven Bridges Advisors is led by founder Lawrence W. Cohen along with five five co-owners as well as 15 advisors and support staff, according to its website. The six firm leaders will become partners at Corient and receive equity in the aggregator once the deal closes, according to the announcement.
Cohen, who launched Seven Bridges in 2011 after leaving a family office, individually owned between 25% and 50% of the firm, according to its Form ADV. The other Seven Bridges partners are: Matthew Ram Lee, Kunj Majmudar, Kevin Barcelona, Scott Coughlin and Kate Ottino, according to the firm’s website.
Seven Bridges had managed $4.6 billion as of March, roughly 55%, or $2.5 billion, of which was non-discretionary, according to its Form ADV. That AUM total had fallen by almost $2 billion, or almost 30%, from a peak of almost $6.6 billion in 2022, according to Form ADV records compiled by advisor database Fintrx.
The acquisition of Seven Bridges is Corient’s sixth deal this year, adding about $37 billion in assets through M&A. Earlier 2026 purchases included Palo Alto Wealth Advisors, Vivaldi Capital and Capital Advisors.
The RIA consolidator also expanded into the Canadian market by absorbing firms owned by its parent company, CI Financial, and inked deals for money managers in Europe.
In 2024, CI Financial was taken private by Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund, for $4.7 billion.
A spokesperson for Corient did not respond to a request for additional comment.
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