Cerity Partners to acquire Iowa wealth manager Gilbert & Cook

Cerity Partners, a New York-based registered investment advisor, has agreed to acquire Gilbert & Cook, a wealth management firm based in West Des Moines, Iowa. The acquisition involves approximately $2 billion in client assets and is expected to close by the end of this month.

The deal marks Cerity Partners’ entry into the Iowa market. Through this acquisition, Gilbert & Cook will gain access to expanded services, including investment management, financial planning, business owner advisory, multigenerational estate planning, and private family office services. Gilbert & Cook was founded in 1993 by managing partner Linda Cook.

Cerity Partners is majority-owned by Genstar Capital, with minority ownership held by employees and Lightyear Capital. Houlihan Lokey served as the advisor for Gilbert & Cook on the transaction. This move follows Cerity’s recent acquisition of Portland-based Cordant Wealth Partners in July.