Arax Advisory Partners is continuing its acquisition streak. Last week, the New York-based company said it agreed to buy Transcend Capital Advisors, a registered investment advisor with more than $3 billion in assets under management as of June 30. The deal is expected to close in the third quarter. Transcend will be the seventh firm to join Arax in 2026, which didn't disclose terms of the transaction.

Transcend was founded in 2019 by former New York Stock Exchange CEO Duncan Niederauer and a group of partners. The firm is based in Madison, N.J., and has offices in Michigan, Rhode Island, and Florida.

"As we looked to the future, we wanted a partner that would preserve what makes Transcend stand out while expanding what we can deliver to clients," says Niederauer, currently the vice chairman of Transcend. "This partnership with Arax accomplishes exactly that, and I couldn't be more excited about the future."

Brian Gorczynski, CEO of Transcend, says that the firm was drawn to Arax because of its leadership.

Founded in 2022, Arax is backed by private-equity firm RedBird Capital Partners and led by Chief Executive Officer Haig Ariyan. He previously led Alex. Brown, a unit of Raymond James Financial. Since its founding, Arax has acquired multiple RIAs and recruited large financial advisor teams from national brokerage firms.

In May, it hired a Poughkeepsie, N.Y.-based team that previously oversaw approximately $1.5 billion in client assets at Wells Fargo Advisors. Arax has approximately $43 billion in assets, according to a spokeswoman.

Write to Andrew Welsch at andrew.welsch@barrons.com

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July 27, 2026 12:07 ET (16:07 GMT)

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