Registered investment advisor (RIA) Adviser Investments, majority-owned by private equity firm Summit Partners, is merging with Ropes Wealth Advisors, previously a wholly owned subsidiary of the law firm Ropes & Gray, to create an RIA with nearly $15 billion in assets and over 185 employees.

Financial terms of the deal were not made available.

Newton, MA–based Adviser Investments, founded 30 years ago, has more than 5,000 clients across the US and caters to families, businesses, foundations and institutions, while Boston-based Ropes Wealth Advisors works with families, trusts and institutions.

Together, they will provide financial, tax and estate planning services, as well as investment management in public and private markets across active, passive and tactical strategies.

“We’re thrilled to partner with Ropes Wealth. The firm’s differentiated service offering, which is centered on high-net-worth clients, is as impressive as its talented executive leaders and deep bench of advisors,” Adviser’s CEO, Mario Ramos, said.

All 40 employees of Ropes Wealth Advisors will work for the new firm, which will continue to operate in the Prudential Tower in Boston.

Brenda Diana and Martin Hall, co-chairs of the private client group at Ropes & Gray, will also join the Adviser Investments management team, as chief fiduciary officer and managing director, respectively, working with CEO Michelle Knight.