The deal brings over US$3 billion to the New York-based advisory firm.

Arax Advisory Partners (Arax), a New York-headquartered wealth advisory firm, has signed a definitive agreement to acquire Transcend Capital Advisors (Transcend), a New Jersey-based independent registered investment adviser (RIA). Transcend’s platform is led by Jacob Grossman Transcend, which reported managing over US$3 billion in assets as of June, will be the seventh firm to join Arax this year, further expanding the company’s presence across a nationally growing footprint. Tr