CW Advisors and Apella Wealth have each extended their footprints with new acquisitions, continuing a trend of consolidation among mid- to large-sized RIA firms and further expanding their national reach.
On Tuesday, Boston-based CW Advisors announced it has snapped up Capital Management Services and CHB Investement Group, two Pennsylvania-based teams offering financial planning and investment management to high-net-worth individuals.
The two deals add $575 million in assets under management and bring CW Advisors' AUM to $14.5 billion, while growing its footprint to more than 150 employees and 22 offices from coast to coast.
“They bring a wealth of experience, and their client first focus is a natural fit with our firm’s culture," CWA CEO Scott Dell'Orfano said Tuesday.
The expansion comes on the heels of CW Advisors’ own acquisition by hybrid RIA giant Osaic in a deal that closed earlier this summer. In the surprise announcement of that move in June, Osaic CEO Jamie Price said CW Advisors “brings tremendous strength in delivering an institutional-quality platform for fee-only RIA advisors at the upper tiers of the wealth spectrum.”
Meanwhile, Apella Wealth, headquartered in West Hartford, Connecticut, has established a presence in Chicago with the acquisition of Park Piedmont Advisors, a firm with offices in both Chicago and the San Francisco Bay Area.
Led by brothers Nick and Tom Levinson, the fee-only advisory firm was founded in 2003 by Nick Levinson along with their late father, Victor Levinson.
The transaction, Appela's second in the Midwest this year, adds more than $1 billion in assets to its platform while giving the RIA consolidator its first location in Chicago.
It follows two other deals this summer: Independence Wealth Advisors in the Washington, DC area and Iron Horse Wealth Management in Iowa, which together contributed nearly $800 million in additional assets .
Apella CEO Patrick Sweeny said the latest deal reflects the firm’s commitment to client-focused advice and its strategy of building a national network of like-minded advisors.
"Their dedication to helping clients achieve financial clarity mirrors our own, and together we are strengthening the expertise we deliver nationwide," Sweeny said.
Park Piedmont’s leadership, meanwhile, highlighted the opportunity to leverage Apella’s broader network while maintaining their focus on client service .
With these acquisitions, Apella now manages more than $8 billion in assets. With more than 24 deals under its belt since inception, it has posted 13 transactions since partnering with Wealth Partners Capital Group in 2021.
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