Cerity Partners agreed to acquire Gilbert & Cook, a West Des Moines wealth manager with about $2 billion in client assets, in a deal expected to close by the end of September.
The acquisition gives the $160 billion New York-based RIA its first foothold in Iowa and extends its expansion strategy into another regional market.
Gilbert & Cook, founded in 1993 by managing partner Linda Cook, will gain access to broader services including financial planning, investment management, estate planning and private family office capabilities.
Cerity has been an active buyer in wealth management; in July it acquired Portland-based Cordant Wealth Partners, which managed about $370 million in client assets.