Aspen Standard Wealth Purchases $1.3B RIA in Michigan

RIA aggregator Aspen Standard Wealth has acquired a Michigan-based wealth management firm, which manages about $1.3 billion in total client assets. 

Kalamazoo, MI-based CWS Financial Advisors, which launched in 1983, was founded by Joseph Splendorio, Lindsey Splendorio, and Cory Wietfeldt and offers wealth management services, including financial planning to high-net-worth clients. 

The 10-person team includes five advisors and serves about 800 households and five charities, according to its latest Form ADV. Additionally, the firm has an office in the San Francisco Bay area. 

CWS Financial Advisors initially launched with broker-dealer A.G. Edwards, prior to its acquisition by Wachovia, which then folded over into Wells Fargo. In 2018, CWS broke away from Wells to operate as an independent RIA. 

“Joining the Aspen platform allows us to continue growing thoughtfully while staying focused on what matters most: serving our clients with the same personalized advice and long-term perspective they’ve come to expect from us,” said Joe Splendorio. 

Aspen’s latest addition marks the firm’s eighth transaction, following its acquisition of New Bern, NC-based RIA BlueSky Wealth Advisors, which oversees about $1 billion in assets under management. 

New York City-based Aspen Standard Wealth, which launched in 2024, is owned by private equity firm Alpine Investors and was founded by CEO Aly Kassim-Lakha. 

Pictured: Joe Splendorio