Rise Growth Partners

Joe Duran, as Managing Partner and CIO, leads the investment team and sets the firm's deal strategy. He is supported by Tony Ling, Managing Partner of Investments and Business Development, and a dedicated M&A group that includes Partners Mike Mirshahzadeh and Phil Jacobson. Investment committee composition is not publicly detailed, though Duran's public interviews suggest consensus-based decisions with Charlesbank's oversight on material capital deployments.

Rise sources primarily through the networks of its operating partners — many are former RIA founders and C-suite executives with deep relationships across the wealth management industry. The firm also runs an outbound business development team led by Phil Jacobson and produces content (podcasts, articles, events) that acts as top-of-funnel lead generation for RIA principals. Unlike bank-affiliated platforms that rely on intermediary referrals, Rise leans heavily on direct, relationship-driven origination.

Rise takes minority stakes — not controlling acquisitions — which distinguishes its model from full consolidators. The firm does not absorb RIAs into a single brand or platform; instead, portfolio firms retain independence while accessing Rise's operational resources, M&A capabilities, and growth playbook. This makes Rise more comparable to minority-growth investors like Emigrant Partners or Merchant Investment Management than to aggregators like Hightower or Focus Financial.

Rise deploys capital exclusively through direct minority investments in RIAs. The firm is not structured as a fund-of-funds and does not commit capital to third-party private equity funds. Its partnership with Charlesbank Capital Partners supplies institutional equity for platform investments, with Rise's management team co-investing alongside on a deal-by-deal basis.

Rise's only publicly named portfolio company is Cyndeo Wealth Partners, a $3.1 billion AUM Florida RIA led by Matt Kilgroe. The firm has stated it has made at least four investments total as of early 2025, but additional names have not been disclosed, which is consistent with the private nature of minority-stake transactions that do not trigger full-ownership disclosures.

Charlesbank is the institutional financial backer behind Rise, providing the bulk of the equity capital used for RIA investments. The relationship is structured so Charlesbank supplies the institutional balance sheet while Rise's operating partners source deals, lead due diligence, and drive post-investment value creation — a hybrid model that blends sponsor capital with embedded operational expertise.

Joe Duran's personal wealth stems from the 2019 sale of United Capital Financial Advisers, the RIA consolidator he founded and led, to Goldman Sachs for approximately $750 million in cash. The exit gave Duran significant liquidity and industry credibility, which he then redeployed, alongside Charlesbank's institutional capital, to launch Rise Growth Partners as a next-generation RIA investment platform.