Osaic Acquires $13.5 Billion CW Advisors

Acquisition strengthens Osaic Advisor’s signature employee model, provides Boston-based RIA with increased access to long-term capital and comprehensive wealth solutions

Osaic, Inc. (“Osaic”), one of the nation’s largest providers of wealth management solutions and a portfolio company of Reverence Capital Partners, today announced the acquisition of CW Advisors, LLC (“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 acquisition of 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. 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 purchasing CW Advisors from its current private equity sponsor, Audax Private Equity, and will provide increased access to capital to support future growth initiatives. 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 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 RIA.

“CW Advisors brings tremendous strength in delivering an institutional-quality platform for fee-only RIA advisors at the upper tiers of the wealth spectrum,” said Jamie Price, President and CEO of Osaic. “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.”

The acquisition 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. 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.

“Joining forces with Osaic represents a pivotal step forward for CW Advisors,” said Scott Dell’Orfano, Chief Executive Officer of 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.”

This is a significant milestone along Osaic’s broader strategic roadmap to develop its signature employee model. Earlier this year, Osaic added Payant Wealth Management Group and remains open to conversations with advisors seeking capital support for growth, succession planning solutions or a transition to a more supported independent environment.

Learn more at Osaic.com.

About Osaic

Osaic, Inc. (“Osaic”), a portfolio company of Reverence Capital Partners, is one of the nation’s largest providers of wealth management solutions, supporting approximately 11,000 financial professionals. Osaic’s mission is to empower entrepreneurial advisors to build thriving businesses and fulfill their clients’ dreams. Visit www.osaic.com to learn more.

Securities and investment advisory services are offered through the firms: Osaic Wealth, Inc. and Osaic Institutions, Inc., broker-dealers, registered investment advisers, and members of FINRA and SIPC. Securities are offered through Osaic Services, Inc. and Ladenburg Thalmann & Co., broker-dealers and members of FINRA and SIPC. Advisory services are offered through Ladenburg Thalmann Asset Management, Inc., and Osaic Advisory Services, LLC., registered investment advisers. Advisory programs offered by Osaic Wealth, Inc. are sponsored by VISION2020 Wealth Management Corp., an affiliated registered investment adviser.

About Reverence Capital Partners

Reverence Capital Partners is a private investment firm focused on three complementary strategies: (i) Financial Services-Focused Private Equity, (ii) Opportunistic, Structured Credit, and (iii) Real Estate Solutions. Today, Reverence manages in excess of $13 billion in AUM. Reverence focuses on thematic investing in leading global Financial Services businesses. The firm was founded in 2013 by Milton Berlinski, Peter Aberg and Alex Chulack, after distinguished careers advising and investing in a broad array of Financial Services businesses. The Partners bring, on average, over 38 years of advisory and investing experience across a wide range of Financial Services sectors.

About CW Advisors

CW Advisors is an SEC-registered investment management firm headquartered in Boston, developing innovative wealth solutions for high-net-worth and ultra-high-net-worth individuals, families, foundations, and endowments. CW Advisors, through superior service and sound, objective advice, offers financial planning and investment consulting and management services, tailored to each client’s unique needs to protect and grow assets. CW Advisors provides specialized family office services to meet the distinctive needs of ultra-high-net-worth and multigenerational families. Registration does not imply a certain level of skill or training. For more information, visit www.cwadvisorsgroup.com.

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The acquisition of 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.