Aspen Standard Wealth Buys $2.9B New England Private Wealth Advisors 

Aspen Standard Wealth, a holding company that acquires registered investment advisory (ria) firms, announced its acquisition of New England Private Wealth Advisors (NEPWA), a Boston-area RIA managing $2.9 billion in assets. This marks Aspen’s second deal since inception, following its November 2024 purchase of Summitry. Backed by private equity firm Alpine Investors, Aspen positions itself as a “permanent home” for successful RIAs. 

NEPWA, established in 2005 by CEO Ira Rapaport, is a fee-only firm serving over 350 high-net-worth individuals, families, and institutions with tailored investment advisory and wealth planning services, including tax, estate, retirement, and insurance solutions. Its assets are custodied at Charles Schwab and Fidelity Investments.  

Post-acquisition, NEPWA retains its brand, culture, and Form ADV (Aspen is not an RIA), while gaining access to Aspen’s resources in back-office support, marketing, compliance, and talent recruitment. 

Rapaport highlighted the deal’s alignment with NEPWA’s growth goals and client-centric focus. “Aspen is exactly the partner we were looking for to retain our brand and culture but also position NEPWA for the next stage of growth, to the benefit of our clients and team members alike,” he said. 

Led by CEO Aly Kassim-Lakha, a former Advent International investor, this acquisition boosts Aspen’s total assets under management to roughly $5.7 billion across its two deals. 

Financial terms of the deal were not disclosed.