Aspen Standard Expands with NEPWA Acquisition
Deal News | Apr 08, 2025 | EIN
Aspen Standard Wealth and Modern Wealth have each announced strategic acquisitions, highlighting a burgeoning interest in RIA mergers and acquisitions expected to continue into 2025. Aspen Standard, which has acquired the Boston-based New England Private Wealth Advisors (NEPWA), aims to harness long-term growth rather than immediate resale, maintaining the firms' operational independence. Modern Wealth has disclosed its entry into the California market through acquisitions that push its Assets Under Management (AUM) beyond $7 billion. The transactions include Wade Financial Advisory and Planned Asset Management, further solidifying its national expansion. These moves illustrate both firms' commitment to enhancing talent, expanding market presence, and enriching service offerings.
Sectors
- Financial Services
- Mergers and Acquisitions
Geography
- United States – Aspen Standard Wealth and Modern Wealth are making acquisitions within the U.S., including in Boston and California, reinforcing their national expansion efforts.
Industry
- Financial Services – Both Aspen Standard Wealth and Modern Wealth operate within the financial services sector, specifically dealing with wealth management and advisory services.
- Mergers and Acquisitions – This article discusses multiple acquisitions by wealth management firms, fitting within the scope of M&A activities.
Financials
- $2.9 billion – Assets Under Management (AUM) of New England Private Wealth Advisors acquired by Aspen Standard Wealth.
- >$7 billion – Modern Wealth's total AUM after acquiring new firms.
- $700 million – AUM of Wade Financial Advisory, acquired by Modern Wealth.
- $350 million – AUM of Planned Asset Management to be acquired by Modern Wealth.
- $500 million – Combined AUM of three firms acquired by Modern Wealth in December.
- $1.4 billion – AUM of the firm involved in Modern Wealth’s biggest transaction last year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aspen Standard Wealth | Acquirer | Company | A firm in the wealth management sector acquiring NEPWA. |
| Modern Wealth | Acquirer | Company | A wealth management firm expanding into the California market through acquisitions. |
| New England Private Wealth Advisors (NEPWA) | Target Company | Company | Boston-based RIA being acquired by Aspen Standard Wealth. |
| Wade Financial Advisory | Target Company | Company | Firm acquired by Modern Wealth to enhance its offerings. |
| Planned Asset Management | Target Company | Company | Firm soon to be acquired by Modern Wealth, bolstering its market presence in California. |
| Aly Kassim-Lakha | CEO of Aspen Standard Wealth | People | Leading Aspen Standard Wealth, overseeing the acquisition and integration of NEPWA. |
| Jason Gordo | Co-founder and President of Modern Wealth | People | Leading Modern Wealth’s expansion and acquisition strategy. |