Ceros Financial Services

I'm very pleased to report that 2025 was another landmark year for Ceros Financial Services and its affiliates, with combined consolidated revenue exceeding $100 million.

Since DGB's acquisition of Ceros Financial in June 2019, revenues have grown from $6.5 million to $103 million (+17x), representing a compounded annual growth rate of approximately 60%.

Equally important has been the significant growth in our assets under management and administration, which increased from $3.8 billion in 2019 to more than $11 billion today (+4x) — a compounded annual growth rate exceeding 25%.

This momentum has been driven by two key developments. First, the addition of the Norwalk, Connecticut office in early 2022 significantly expanded our capabilities and reach. This was followed by the merger with Roger Monteforte, the Forte Capital Group, and the Innovation X Advisors business in mid-2022. InnovationX Advisors positioned us within the highly dynamic and compelling unicorn ecosystem, where we continue to pursue opportunities on behalf of our clients.

Thanks to Roger's leadership and vision in building out our private markets capabilities, the foundation we have built positions us well for what lies ahead. With Ceros and affiliates' approximately $40 million in revenue during the first quarter of 2026, we are encouraged by the firm's momentum and look forward to another strong year.

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