Arax Investment Partners, a private equity-backed upstart led by former Alex. Brown executive Haig Aryan, has taken a majority stake in a wealth management power play by acquiring Ashton Thomas Securities. This acquisition marks a significant milestone for Arax as it continues to grow its multi-boutique wealth management platform.
Ashton Thomas Securities, an independent broker/dealer and RIA recently acquired by Arax Investment Partners, will use BNY Mellon's Pershing for its wealth management services. This strategic partnership with BNY Mellon's Pershing will provide Ashton Thomas with enhanced capabilities and resources to better serve its clients.
Arax Investment Partners is kicking off the new year with a bang as it solidifies its position in the wealth management industry. Backed by private-equity firm RedBird Capital Partners, Arax continues to make strategic control investments in best-in-class wealth management firms.
Three significant milestones have been announced by Arax Investment Partners as it scales up its multi-partner platform. The acquisition of Ashton Thomas Securities is just one part of Arax's aggressive growth strategy in the wealth management sector.
An advisory team from Alex. Brown, the wealth manager subsidiary of Raymond James, has reunited with its old chief executive under the leadership of Arax Investment Partners. This reunion signals a strong partnership between the two entities as they work together to expand their presence in the wealth management industry.
RedBird-backed Arax Investment Partners is set to buy financial advisor Ashton Thomas Private Wealth, further solidifying its position in the market. Based in New York City, Arax is a wealth management powerhouse with ambitious growth plans.
Arax Investment Partners, which launched last year with former Deutsche Bank and Raymond James executive Haig Ariyan at the helm, is making waves in the wealth management industry. The acquisition of Ashton Thomas Securities is just the latest in a series of strategic moves by Arax to expand its reach and influence.
As part of the deal, Ashton Thomas, now owned by Arax Investment Partners, will be able to use BNY Mellon's Precision Direct Indexing. This cutting-edge technology will enhance Ashton Thomas' wealth management capabilities and give it a competitive edge in the market.
