Osaic, which is one of the nation’s largest providers of wealth management solutions and a portfolio company of Reverence Capital Partners, announced the acquisition of CW Advisors, a Boston-based registered investment advisor (RIA) managing $13.5 billion in fee-only client assets. CW Advisors serves high-net-worth and ultra-high-net-worth clients through its core wealth management and family office platform, with 140 professionals across 17 offices.
The deal for CW Advisors represents continued execution of Osaic’s strategy to expand its addressable market, serve advisors across all affiliation models, and enable advisors to serve clients across the full wealth spectrum. And through its custodial partnerships with Schwab and Fidelity, CW Advisors also represents Osaic’s opportunity to provide expanded scale and capabilities as a leading non-self-clearing wealth management firm.
Osaic is buying CW Advisors from its current private equity sponsor, Audax Private Equity, and will provide increased access to capital to support future growth initiatives. And CW Advisors will also benefit from Osaic’s comprehensive wealth capabilities in the high net worth and ultra-high net worth markets, provided by its partner companies,s Premier Trust and Highland Capital Brokerage. CW Advisors will retain its name and client service model, remain operationally independent, and continue to serve clients as a standalone Registered Investment Advisor (RIA).
This deal advances Osaic’s vision for Osaic Advisors, its signature employee model, which provides growth-oriented advisors with the resources and capital to thrive, while relieving them of the many day-to-day burdens of running an independent business. And with its outstanding track record of client service and growth, CW Advisors has established itself as a leader within the client referral networks from custodians Fidelity and Schwab – a compelling feature of its model that Osaic will continue to support and enhance.
KEY QUOTES:
“CW Advisors brings tremendous strength in delivering an institutional-quality platform for fee-only RIA advisors at the upper tiers of the wealth spectrum. Their scale, talent and infrastructure are highly complementary to our strategy of expanding Osaic’s presence across all models and segments of the wealth management industry. We also welcome CW’s management team, current private equity sponsor and advisors to become Osaic shareholders, alongside our current advisor shareholders. We are delighted to welcome the CW family into the Osaic family.”
Jamie Price, President and CEO of Osaic
“Joining forces with Osaic represents a pivotal step forward for CW Advisors. This partnership provides us with access to permanent capital that aligns with our long-term vision and the needs of our clients and advisors. We’re grateful for the support we’ve received from our previous owner and are energized by the opportunity to grow our business with ongoing flexibility and strategic control.”
Scott Dell’Orfano, Chief Executive Officer of CW Advisors
