RICHMOND, Va.--(BUSINESS WIRE)--Cary Street Partners today announced it has agreed to acquire AnchorCove Partners, a New York metro area firm, founded only a year ago by Matthew Rubin, an industry veteran. Mr. Rubin will serve as Chief Investment Officer of Cary Street Partners and will lead the firm’s wealth management solutions. The firm continues to see significant growth and an expanding advisor base resulting in an increasing demand for comprehensive portfolio management solutions across a broad array of asset classes. Mr. Rubin has more than 25 years of industry experience. Before launching AnchorCove, he was a Founding Partner and Chief Investment Officer of Matrix Private Capital Group in New York City, and prior to that he was a Managing Director at Neuberger Berman where he served as Chief Investment Officer of the Trust Company as well as Chair of the firm’s Asset Allocation Committee. He has also held roles at U.S. Trust Company, a large global single-family office, and Morgan Stanley.
“We are pleased to be joining forces with Matt Rubin,” said Joseph R. Schmuckler, Chief Executive Officer of Cary Street Partners. “Matt’s dedication to serving his clients, nurturing his deep network of industry relationships over his successful career as well as his professionalism and work ethic, make him a perfect fit for our commitment to always strive to deliver a higher standard for our advisors and the clients they serve,” Mr. Schmuckler added. “I am very excited to join the team at Cary Street Partners,” stated Mr. Rubin. “I believe my experience and passion in partnering with clients and advisors in constructing multi asset portfolios across best-in-class traditional and alternative managers will be another valuable resource to both our current and rapidly growing family of clients and advisors.”
Since the founding of the firm in 2002, Cary Street Partners has maintained a focus on manager research and the attendant investment services needed to support a growing and sophisticated independent wealth management business. Led by Thomas O. Herrick over these years, the group has grown in scope. “With growth has come the need to meet the demands of a rapidly growing business which has afforded us the opportunity to have Matt Rubin join the firm” stated Mr. Schmuckler. Mr. Herrick will continue as Chief Market Strategist, Managing Director of Cary Street Partners. In that role Mr. Herrick will focus on the firm’s published thought leadership, as well as CSP Global model portfolios and the build out of the firm’s ETF suite in partnership with Fairlead Strategies.
Cary Street Partners is an independent wealth management firm with a core focus on providing unbiased advice in an open environment to support its financial advisors in serving their clients and delivering a higher standard. The firm provides a comprehensive support model which includes investment research, holistic planning resources, multi-custodial operations and robust technology capabilities.
Mr. Rubin will be helping to expand the firm’s Morristown, New Jersey location with a presence in New York City, while Mr. Herrick will continue in the firm’s Richmond, Virginia office. Cary Street Partners today manages and advises on nearly $8 billion in assets across all subsidiaries and provides comprehensive wealth management solutions to individuals, families and institutions.
About Cary Street Partners
Cary Street Partners Financial LLC is a leading independent financial services firm operating in 17 offices across six states. Cary Street Partners provides comprehensive wealth management services including investment management, planning and financial advice in a culture dedicated to independence and objective thinking. Cary Street Partners’ financial advisors serve individuals, families and institutions with customized strategies tailored to fit each client’s objectives. For more information, please visit carystreetpartners.com.
Cary Street Partners is the trade name used by Cary Street Partners LLC, Member FINRA/SIPC; Cary Street Partners Investment Advisory LLC and Cary Street Partners Asset Management LLC, registered investment advisers. Registration does not imply a certain level of skill or training.
