Aspen Standard Wealth Adds $1.1B MG Financial 

Aspen Standard Wealth, a holding company, has acquired MG Financial, a wealth management firm, which oversees $1.1 billion in assets. 

Braintree, MA-based MG Financial, founded in 1996, is led by CEO and CIO Mary Gilligan. The team also includes VP of client services Kate Chilson, VP of operations Carol Thomas, operations manager Michael Thomas, and manager Joseph Thomas, per the firm’s website. 

The acquisition of MG Financial marks Aspen’s fourth registered investment advisor that the firm has acquired since launching last April. 

MG Financial provides wealth management, “comprehensive” asset allocation services, estate planning, tax planning, along with a selective manager program to high-net-worth families, entrepreneurs, business owners, and C-suite executives. 

“We are honored to partner with the incredible team at MG Financial and to work together to build on their long-term vision to serve sophisticated families with complex wealth management needs,” Aly Kassim-Lakha, CEO of Aspen, said. 

Aspen states that it takes a majority stake in the registered investment advisor firms that decide to join, with those firms maintaining their brand and legal documentation, including their Form ADV. 

Since its launch, Aspen has been backed by San Francisco-based private equity firm Alpine Investors and has taken a majority stake in San Francisco-based RIA Summitry, which manages $2.8 billion in client assets. Additionally, Summitry’s addition marked Aspen’s first acquisition, following its launch. 

Aspen has acquired three other registered investment advisor firms prior to MG Financial. Previous acquisitions include, $800 million SKY Investment Group, $2.9 billion New England Private Wealth Advisors, and $2.8 billion Summitry. 

Aspen Standard Wealth, which was founded by CEO Aly Kassim-Lakha, has a staff of approximately 15 employees.