Arax Advisory Partners Expands Northeast Footprint with $1.5 Billion Acquisition of The Oak Group
Arax Advisory Partners is aggressively scaling its presence in the Northeast, announcing the acquisition of The Oak Group, a prominent wealth management practice based in Poughkeepsie, New York. The move brings nearly $1.5 billion in client assets under the Arax umbrella and signals a strategic push into the Hudson Valley market.
- The Deal: Arax Advisory Partners acquired The Oak Group, bringing nearly $1.5 billion in assets under management (AUM).
- Strategic Move: The Oak Group is the second Hudson Valley-based firm Arax has acquired in 2026, following Omni Financial Advisory Group.
- The Talent: A team of eight advisors and three support staff from Wells Fargo are joining the Arax platform.
- Scale: Arax now operates across 15 states with approximately $43 billion in total assets under management.
Targeting the ‘Under-Appreciated’ Hudson Valley
The acquisition of The Oak Group is not an isolated event but part of a calculated expansion into New York’s Hudson Valley. According to Arax founder and CEO Haig Ariyan, the region represents a significant growth opportunity that is frequently overlooked by larger firms.
“The opportunity in the Hudson Valley is very significant. It’s oftentimes an overlooked and under-appreciated market, but there’s a meaningful population there that’s in need of wealth management advisory services,” Ariyan stated. He further noted that “meaningful generational wealth” exists within the region.
This acquisition follows Arax’s move in late March 2026 to acquire Omni Financial Advisory Group, another Poughkeepsie-based firm founded by Gregory Bayer and managed alongside his children, Braedon and Reilly. By clustering acquisitions in this region, Arax is positioning itself as a dominant independent alternative to national platforms in the upstate New York corridor.
The Oak Group: Transitioning from Wells Fargo
Founded in 2003 by Ryan Peek and Gary Ben-Ezra, The Oak Group arrives at Arax from Wells Fargo. The team brings over 60 years of combined industry experience and employs a methodology centered on tactical asset allocation and modern portfolio theory to manage wealth preservation and development.
For The Oak Group, the move to an independent RIA (Registered Investment Advisor) platform offers a new level of flexibility. “In Arax, we were pleased to find a partner that is as dedicated to delivering excellent client service as we are,” said Ryan Peek. “We look forward to exploring the new opportunities that this move creates for our clients and advisory practice overall.”
The Arax Strategy: Private Equity Backing and Rapid Scale
Arax Advisory Partners operates as a subsidiary of Arax Investment Partners, a firm founded in 2022 by Haig Ariyan, who previously served as president of the Raymond James-owned investment bank Alex Brown. The organization is backed by RedBird Capital Partners, a private equity firm with a diverse portfolio that includes the Boston Red Sox, A.C. Milan and the YES Network.
Arax’s current growth trajectory is characterized by the acquisition of large, breakaway teams from “wirehouses” and major regional banks. In 2026 alone, the firm has added five firms to its network. This strategy has allowed Arax to rapidly scale to $43 billion in AUM, serving a specialized clientele that includes high-net-worth families, institutions, and professional athletes.
Comparison: Arax’s 2026 Hudson Valley Expansion
| Firm | Acquisition Date | Previous Affiliation | Key Focus/AUM |
|---|---|---|---|
| Omni Financial Advisory Group | Late March 2026 | Cetera | Family-led practice |
| The Oak Group | May 2026 | Wells Fargo | ~$1.5 Billion AUM |
Looking Ahead
As the wealth management industry continues to shift toward independent RIA models, Arax’s ability to lure high-performing teams from established national platforms suggests a continuing trend of “breakaway” practices. With the backing of RedBird Capital Partners and a clear appetite for $1 billion-plus firms, Arax is likely to continue its aggressive expansion across the U.S., leveraging its coalition model to attract advisors seeking more autonomy without sacrificing institutional scale.
