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MIAMI, February 06, 2025--(BUSINESS WIRE)--Corient, one of the nation’s largest and fastest-growing national wealth advisors, today announced it has acquired Rootstock Advisors ("Rootstock"), a Pennsylvania-based registered investment advisory firm with approximately $600 million in assets under management (as of January 31, 2025). This acquisition strengthens Corient’s ability to serve ultra-high-net-worth (UHNW) clients and expands its presence in the Pittsburgh region.
Since its inception, Rootstock has built a client-centric culture, serving a select group of UHNW and high-net-worth families and households. The firm provides comprehensive family office services, including investment management, estate planning coordination, philanthropic strategy, family governance, education planning, wealth planning and income tax oversight. With its dedication to delivering tailored solutions, Rootstock has cultivated lasting client relationships and become a trusted partner in preserving and growing generational wealth.
"By joining Corient, we gain access to the expertise, resources and support of a leading national wealth firm, which enables us to do more for clients," said Greg Simpson, Rootstock President. "Corient’s unique Private Partnership was a critical factor in our decision to join, as it promotes an alignment of values across the firm and allows us to collaborate with a large and growing team of colleagues with significant experience and expertise."
"Rootstock’s expertise in serving ultra-high-net-worth families and deep commitment to providing bespoke family office-style solutions make them an exceptional addition to Corient," added Kurt MacAlpine, Partner and Chief Executive Officer of Corient. "We share a commitment to acting as trusted fiduciaries, providing solutions that prioritize clients’ interests and simplify the challenges of managing significant wealth. Together, we’re focused on exceeding client expectations, helping families navigate financial complexities and building enduring legacies for the future."
The acquisition of Rootstock is Corient’s third transaction in the past three months. In January, CI acquired the multi-family office business of Geller and Company of New York, and in December, CI announced an agreement to acquire H.M. Payson & Co. of Portland, Maine. The transactions follow CI’s announcement on November 25, 2024 that it has entered into a definitive agreement with an affiliate of Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, to take the firm private.