Cerity Partners is expanding its ultra-high-net-worth footprint to Texas and Colorado.Formerly known as HPM Partners, Cerity will acquire Karsten Advisors, a Fort Worth-based wealth management firm with $500 million in client assets. This is the first acquisition for the firm since merging in April with the Blue Prairie Group, an $11 billion retirement and investment consulting firm. The merger allows the national RIA, backed by a 50% equity stake from private equity firm Lightyear Capital, to expand into the Fort-Worth and Denver markets, as it continues to grow its network for ultra high-net-worth clients. 

Cerity Partners, one of the nation's leading independent wealth management and investment advisory firms, announced today that it will merge with Blue Prairie Group, a prominent retirement and investment consulting firm. With this merger, Cerity Partners will now advise on more than $21 billion in client assets. Headquartered in Chicago, Blue Prairie Group is a fee-only registered investment advisor serving retirement plan sponsors, foundations, endowments and private clients.