$9 Billion U.S. Capital Wealth Advisors Joins Arax Investment Partners
Arax Investment Partners, a wealth management platform company backed by RedBird Capital Partners, announced the addition of U.S. Capital Wealth Advisors – an independent wealth management firm headquartered in Houston, Texas, and managing approximately $9 billion in assets under management and/or administration across over 5,500 clients and 62 advisers.
USCWA has a strong footprint in Texas across Houston, Austin, Dallas and Georgetown, as well as offices in New York City and Massachusetts. According to Arax, the firm brings meaningful scale to the Arax platform, as well as robust operating infrastructure and full-service wealth management capabilities, including financial planning, investments, and insurance to support high-net-worth and ultra-high-net-worth clients. In only 18 months, Arax’s boutique platform has grown to 120 advisers serving over 12,000 clients that represent more than $16 billion of AUM/A.
“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,” said Haig Ariyan, chief executive officer of Arax. “Bringing in this multi-custodial 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.”
U.S. Capital Advisors, co-founded by Pat Mendenhall and Dave King, combined its large advisory wealth business with Legacy One Financial in 2021 to form USCWA under the leadership of Jim Fortescue, Mendenhall and King. In joining Arax, USCWA will maintain their branding, core adviser and client-facing operations.
Arax will continue to operate as a multi-boutique platform providing shared services across back-and-middle office functions, as well as enhancing organic and inorganic growth through new product and service capabilities, cross-selling and supporting mergers and acquisitions sourcing and execution for key teams at USCWA, Ashton Thomas, and the other advisory firms already partnered on the platform.
“We strive to provide clients and advisory teams the sophisticated financial support, direction, and solutions they need with an unrivaled client-centric experience. We are excited to continue this core focus as part of the Arax team,” said Mendenhall, co-managing partner at USCWA. “Arax’s partnership strategy and flexible platform set it apart in the market and will support our team in delivering superior results for clients.”
RedBird Capital Partners is a private investment firm that builds high-growth companies with strategic capital solutions to founders and entrepreneurs. The firm currently manages $10 billion in assets on behalf of a global group of blue chip institutional and family office investors.
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