Corient Acquires $5 Billion New York Metropolis RIA

Corient, a Miami-based RIA aggregator overseeing round $535 billion in shopper property, has agreed to amass a New York Metropolis-based RIA with nearly $5 billion in property, in accordance with an announcement on Tuesday. 

Seven Bridges Advisors is led by founder Lawrence W. Cohen together with 5 5 co-owners in addition to 15 advisors and assist workers, in accordance with its web site. The six agency leaders will turn into companions at Corient and obtain fairness within the aggregator as soon as the deal closes, in accordance with the announcement. 

Cohen, who launched Seven Bridges in 2011 after leaving a household workplace, individually owned between 25% and 50% of the agency, in accordance with its Type ADV. The opposite Seven Bridges companions are: Matthew Ram Lee, Kunj Majmudar, Kevin Barcelona, Scott Coughlin and Kate Ottino, in accordance with the agency’s web site. 

Seven Bridges had managed $4.6 billion as of March, roughly 55%, or $2.5 billion, of which was non-discretionary, in accordance with its Type ADV. That AUM whole had fallen by nearly $2 billion, or nearly 30%, from a peak of virtually $6.6 billion in 2022, in accordance with Type ADV information compiled by advisor database Fintrx. 

The acquisition of Seven Bridges is Corient’s sixth deal this yr, including about $37 billion in property by means of M&A. Earlier 2026 purchases included Palo Alto Wealth Advisors, Vivaldi Capital and Capital Advisors. 

The RIA consolidator additionally expanded into the Canadian market by absorbing companies owned by its guardian firm, CI Monetary, and inked offers for cash managers in Europe.

In 2024, CI Monetary was taken personal by Mubadala Capital, the asset administration arm of Abu Dhabi’s sovereign wealth fund, for $4.7 billion.

A spokesperson for Corient didn’t reply to a request for extra remark.

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