Arax Investment Partners, a wealth and asset management platform company backed by RedBird Capital Partners, announced that it has acquired Schechter Investment Advisors (SIA), the registered investment adviser (RIA) business of Schechter, a boutique wealth advisory and financial services firm based in Birmingham, Mich., with $4 billion in assets under management (AUM) as of May 28, 2025. Financial terms of the transaction were not disclosed.
This deal marks the latest expansion of Arax’s platform, which continues to expand its presence in markets across the United States. Expanding the firm’s footprint and ability to meet client needs in the Midwest, SIA will join Arax Advisory Partners, Arax’s coalition of independent firms focused on specialized services, investment advice and planning solutions for high-net-worth families, individuals and institutions. Schechter’s Advanced Design Life Insurance business will remain a separate, independent entity.
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