|MOUNT PLEASANT, S.C., April 3, 2019 -- Wise Rhino Group, the "advisor's M&A advisor" for retirement plan consulting firms, today announced that Cerity Partners has acquired Blue Prairie Group to create a $21 billion advisory firm. Wise Rhino Group advised Cerity Partners in the transaction.
Blue Prairie Group is now part of the Cerity Partners' brand, and Ty Parrish, former managing partner and senior EIRSA consultant for Blue Prairie Group, assumes the role of practice leader of the Retirement Plan Services Group at Cerity Partners.
"We were engaged by Cerity Partners' CEO Kurt Miscinski to find the most impactful partner to lead its national retirement consulting and advisory efforts as well as enhance its world-class wealth management and investment advisory business. We knew immediately after getting to know Kurt and the Cerity Partners team that Blue Prairie Group would be a perfect match in every way," said Dick Darian, CEO and partner of Wise Rhino Group.
"We have had the pleasure of knowing the Blue Prairie partners for many years and felt that their cultural integrity was identical to Cerity Partners. We have no doubt their combined entity will be a real force in the industry," said Bob Francis, executive chairman and partner of Wise Rhino Group.
Parrish added, "Due to our reputation, client base and industry-leading intellectual capital, we have been approached for many years by multiple firms looking to merge. We always passed because we never felt that any of those potential combinations were in our clients' best interests. But when longtime friends Dick Darian and Bob Francis of Wise Rhino Group reached out and described a firm that sounded a lot like us, we were intrigued. They were spot on with their assessment and helped us navigate the early goings of the due diligence process, and today we are thrilled to be a part of this client-centric firm that has the size, infrastructure and resources to be a powerhouse in both the retirement and wealth management business for a long time to come."
Cerity Partners is a leading, national-registered investment advisory firm serving high-net-worth individuals and their families, businesses and their employees and nonprofit organizations from its office across the country. With no financial products to sell, the firm's in-house experts of attorneys, tax advisors, financial planners and investment professionals are passionate about and committed to providing objective financial advice and oversight.
Blue Prairie Group (BPG) is an independent, fee-based Registered Investment Advisory firm providing unbiased and objective financial consulting through three practice areas: ERISA Retirement, Wealth Management and Foundations & Endowments. Headquartered in Chicago, BPG has established itself as one of the leading investment and fee-based advisory firms in the country with satellite offices in Atlanta, Tampa, Philadelphia, Pittsburgh, San Francisco and Salem, Ore.
About Wise Rhino Group
Wise Rhino Group (WRG) is a unique resource and catalyst for retirement consulting firms in pursuit of accelerated growth and sustained competitive success. It focuses on Merger & Acquisition Advisory; Valuations & Financial Benchmarking; Business Strategy & Planning; Perpetuation Planning and Industry Analytics & Perspectives.
WRG delivers unbiased counsel and guidance backed by a unique experience-based understanding of all aspects of the retirement business, an impactful set of processes and databases and an extensive network of relationships. It is committed to bringing these qualities and resources to every engagement, with a focus on integrity and trust.
For more information, visit www.WiseRhinoGroup.com or contact Tony Leonard at (704) 929-8414.