by Stephanie Cohn Rupp, CEO

By now you may have heard the news that, as of January 31, 2022, the private investment firm Rosemont Investment Group has partnered with Veris as a minority investor. We are thrilled to share this news, as this move means that we are successfully managing succession at Veris by doubling down on our independence and our commitment to impact investing by seeking out innovative financial partners as well as promoting from within.

Veris Wealth Partners was founded by five socially responsible investors in 2007. Over the years, Veris has grown to become a leader in the industry as a fully-committed Impact Wealth Manager. To facilitate a smooth transition to impact-focused next generation leadership, we began conversations about succession and exploring scenarios several years ago, and we have been working for the past few years on the transition. Three of our founders retired prior to 2021, and Patricia Farrar-Rivas, our previous CEO who led Veris for over 13 years, will be retiring as of March 30th, 2022. The strategic question for Veris all along and particularly during this past year has been how to handle this succession while staying true to our clients and our mission.

We did not want an investor requiring an exit from its investment after a few years and focused on finding an investor with a long-term commitment to Veris and its multigenerational clients. We finally found Rosemont Investment Group – a permanent, RIA expert minority investor who now owns a minority interest in Veris.

Rosemont is an ideal partner for Veris in many ways. They respect Veris Wealth Partners’ legacy as a leader in impact investing. Furthermore, their dedication towards the long-term success of Veris (including supporting the promotion of partners from within) will contribute significantly towards Veris’s long-term commitment to remaining an independent Impact wealth management firm, of which there are now only a few such firms still standing. This was recently evidenced by the promotion of our Senior Research Analyst, Roraj Pradhananga, who became a partner of Veris at the end of 2021.

We see a variety of benefits stemming from our new relationship with Rosemont to Veris. This financing model allows us to remain a stand-alone firm, now one of the few Impact-only Wealth Management firms in the United States. Our firm’s independence is what allows us to invest in our policy work and other non-traditional activities for a wealth manager, such as our research to help sectors such as Regenerative Agriculture, Gender Lens Investing and Racial Justice to grow.

Furthermore, our new partners at Rosemont, Chas Burkhart and Brad Mook, have 18+ years of experience investing in the RIA space. They are helping us further develop and refine our business so we can carry out Veris’s mission. Together, we believe we can create a stronger, larger, and more modern Veris. As experienced wealth management specialists, Rosemont can help Veris grow sustainably while we remain at the forefront of impact investing.

In sum, this new partnership with Rosemont will help Veris remain financially strong, independent, and innovative which will enable us to further our mission.

Yours in Impact,

Stephanie Cohn Rupp, CEO