Aspen Standard Wealth, a firm focused on providing a permanent home for successful independent RIAs, has announced a significant acquisition. The company has acquired MG Financial, a Boston-area RIA with $1.1 billion in assets under management. This latest deal further expands Aspen’s growing portfolio of wealth management firms.
Founded in 1996, MG Financial has built a strong reputation for serving high-net-worth clients, including entrepreneurs, business owners, and CEOs. The firm offers a comprehensive suite of wealth management services, encompassing tax and estate planning, asset allocation, and manager selection. MG Financial’s team-based approach and wide range of services are key factors that make it an attractive partner for Aspen Standard Wealth.
Aspen’s business model is unique in that it focuses on long-term partnerships rather than a “buy-to-sell” strategy. The firm aims to preserve the individual identity of the RIAs it acquires, empowering their existing leadership and supporting sustainable growth. This approach provides a stable and enduring home for firms like MG Financial.
This acquisition is the fourth for Aspen Standard Wealth since its launch in late 2024. The firm has been on a rapid expansion path, having previously acquired SKY Investment Group, New England Private Wealth Advisors, and Summitry. This series of strategic acquisitions highlights Aspen’s commitment to building a network of successful, independent RIAs and solidifying its presence in the wealth management space.
KEY QUOTES:
“Aspen is a unique partner whose values are aligned with our own. They are focused on supporting our tight-knit, energetic culture and high standards of service. We are excited to work with Aly and the Aspen team to amplify our growth as we continue to provide our clients with strategies tailored to their specific needs and objectives. What we do enables our clients to pursue other passions; be it enjoying retirement or working on the next start-up company.”
Mary Gilligan, CEO and CIO of MG Financial
“We are honored to partner with the incredible team at MG Financial and to work together to build on their long-term vision to serve sophisticated families with complex wealth management needs.”
Aly Kassim-Lakha, CEO of Aspen
