Leading financial advisory firm World Investment Advisors (formerly Pensionmark) announced that it has acquired Boston Harbor Wealth Advisors (BHWA), an independent financial services firm located in Westborough, Massachusetts. Specializing in comprehensive financial planning and goal-oriented investment management for individuals, families and businesses, BHWA has more than $3.5 billion in assets under management (AUM), 76 team members, and 15 offices across the Northeast and Ohio.
This partnership combines BHWA’s strong leadership, desirable geographical locations, and advanced capabilities with World’s centralized support model, multi-custodian offering, modern tech stack, and lead generation resources. BHWA advisors will benefit from comprehensive tools and systems to help grow their businesses and high-quality solutions to offer their clients.
This is World Investment Advisors’ third acquisition in the past 9 months and its second with over $3 billion in AUM. Highlighting its commitment to wealth management, World Investment Advisors now has $11.5 billion in total wealth AUM, comprising 64% of overall firm revenue.
BHWA was represented by DeVoe & Company, a leading consulting firm and investment bank for RIAs.
KEY QUOTES:
“We are delighted to welcome the Boston Harbor team to the World family. In addition to an incredible group of financial advisors, we are fortunate to be adding premier leadership and team members that will prove invaluable for our advisors, clients and ongoing acquisition growth strategy. This partnership further solidifies World as the destination of choice for growth-focused advisory firms.”
– Troy Hammond, CEO of World Investment Advisors
“Our partnership with World enables us to enhance and expand our existing acquisition strategy and provides a tremendous opportunity for our advisors and clients. Having World’s backing will significantly increase our effectiveness as we expand our recruiting efforts in the RIA space with a more robust and competitive offering for advisors.”
– Matthew Davis, CEO of BHWA
