Arax Investment Partners, the wealth management platform founded by former Alex. Brown leader Haig Ariyan, has announced its acquisition of Ashton Thomas Private Wealth. This strategic move will enable Arax to further strengthen its offerings for high-net-worth clients.
Ashton Thomas, a registered investment advisor based in Scottsdale, Ariz., has built a distinguished reputation since its establishment in 2010. Serving primarily individual investors, as well as a select group of businesses and charities, Ashton Thomas manages approximately $2 billion in assets under management. The firm's impressive client base includes nearly 500 high-net-worth individuals.
The acquisition of Ashton Thomas aligns perfectly with Arax's growth-oriented vision. With a focus on capitalizing on opportunities within the fragmented wealth management space, Arax aims to attract top-tier wealth managers and advisors seeking to scale their businesses while enhancing client offerings, retention, and growth.
Haig Ariyan, the driving force behind Arax Investment Partners, expressed his enthusiasm for the partnership, emphasizing the shared values and ambitions between the two firms. He believes that Ashton Thomas' team is an excellent addition to Arax and will contribute to the firm's long-term success.
Arax Investment Partners continues to make strategic moves within the wealth management industry, positioning itself as an attractive partner for advisors seeking a supportive and growth-oriented environment.
Ashton Thomas Partners with Arax: A Milestone Deal
Ashton Thomas, a prominent investment management firm, has recently announced a monumental partnership with Arax. With an impressive current AUM of approximately $3 billion, this collaboration is set to drive Ashton Thomas to new heights.
Expanded Reach and Enhanced Services
Maintaining 12 offices spread across seven states, Ashton Thomas is renowned for offering bread-and-butter investment management and financial-planning services. Alongside these core offerings, the firm also provides financial education programs, tax consulting, and retirement planning solutions to its distinguished clients.
A Perfect Match for Growth and Independence
Aaron Brodt, the founder and CEO of Ashton Thomas, expresses the firm's excitement about this venture. The sale to Arax promises an array of valuable resources that will empower advisors in their pursuit of growth. Furthermore, the new partnership ensures that Ashton Thomas retains its operating autonomy, preserving its independent and entrepreneurial culture.
"We have worked tirelessly to address the ever-evolving needs of elite wealth advisors and their clients. Our track record of attracting top talent within the financial services industry speaks for itself," says Brodt. "The vision and values of Haig, along with Arax's distinctive platform, align perfectly with our own aspirations. This collaboration enables our advisors to scale their operations without compromising their independent spirit."
Leadership Continuity and Future Prospects
Despite the partnership, Aaron Brodt will continue his role as CEO of Ashton Thomas. Meanwhile, Haig Ariyan, a key figure at Arax, will assume the position of Chairman at the RIA.
With this groundbreaking alliance, Ashton Thomas embraces a future of unprecedented growth and opportunities while upholding its commitment to serving clients with excellence.