Arax Expands Florida Footprint with Millares Asset Management Acquisition
Event summary
- Arax Investment Partners acquired Millares Asset Management on June 1, 2026.
- Millares is a Coral Gables-based wealth management and tax advisory firm with 30 years of experience.
- The Millares team, including co-founder Maria R. Millares and her sons Ruben and Javier, joins Arax.
- Arax aims to strengthen its presence in South Florida's growing private wealth market.
The big picture
Arax's acquisition of Millares underscores the consolidation trend in wealth management, particularly in high-net-worth hubs like South Florida. The deal aligns with Arax's strategy of acquiring family-owned practices to expand its regional footprint and AUM. With backing from RedBird Capital Partners, Arax is positioning itself as a scalable platform for specialized wealth management services.
What we're watching
- Integration Challenges
- How Arax will blend Millares' client-centric approach with its own platform.
- Market Penetration
- Whether this acquisition accelerates Arax's dominance in South Florida's wealth management sector.
- Scalability
- The pace at which Arax can replicate this model in other high-growth wealth markets.
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