CW Advisors Acquires Two Boston-Area RIAs 

CW Advisors LLC (CWA) has acquired Aspire Wealth Management, Inc. and Fernwood Investment Management, LLC, two Massachusetts-based firms with more than $800 million in assets under management. Both firms serve high-net-worth clients, providing financial planning and investment management.  

Boston-based CWA, which has been backed by Audax Private Equity since June of 2023, now has 14 offices across the country, 119 employees, and $11 billion of assets under management following the acquisitions. Terms of the transactions, which closed in January, were not disclosed. 

“We look forward to leveraging the CWA platform to provide an expanded offering and continued premium service to our clients,” said Mark Khozozian, CEO of Aspire. 

Fernwood founder Thomas Reilly added, “By joining CWA, we are able to continue to work closely with our clients to help achieve their goals while benefitting from the larger organization and resources CWA provides.” 

Last July, CWA acquired Cubic Asset Management an RIA located in Hamilton, N.J. The deal added over $700 million of client assets to CWA. 

Fernwood was represented by Surfside Capital. 

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