Apella Wealth Acquires $207M RIA 

West Hartford, CT-based Apella Wealth has added a McLean, VA-based registered investment advisor firm that oversees more than $207 million in assets. 

Independence Wealth Advisors, founded in 2007, is led by founder and president Kathleen Duffy. The firm provides financial and retirement planning, and investment management to families, pre-retirees, retirees, and business owners. 

Duffy is the only financial advisor at Independence Wealth Advisors and serves clients with the help of a contractor, who will continue to assist Duffy following the transition, a company spokesperson confirmed to Connect Money.

Duffy is also the founder and CEO of Safe Harbor Partners, a separate division under Independence Wealth Advisors that specializes in providing tailored retirement services, according to her LinkedIn profile.

Independence Wealth Advisors will boost Apella’s presence in the Washington, D.C. area, and the firm has worked with Turkey Hill Management, a financial advisory firm, as its financial advisor for this acquisition, a company spokesperson said. 

Independence Wealth Advisors oversees $219 million in client assets across 475 accounts, according to its Form ADV updated in March.  

“To expand our services and support our clients, we sought a partnership with the same commitment to a client-first mindset and the fiduciary standard,” Duffy said. “A top priority was finding a firm that had maintained its independence and shared our long-term vision. Apella is uniquely positioned to meet all these standards.” 

The transaction closed on June 30, marking Apella’s 23rd transaction, and 12th since partnering with Wealth Partners Capital Group, which invested in Apella in September 2021. 

In June, Apella Wealth acquired Johnston, IA-based Iron Horse Wealth Management, which manages about $574 million in client assets. 

Apella Wealth, founded in 2014, oversaw about $6.08 billion in client assets, according to the firm.