CW Advisors Boosts Boston Network with $800M Double Pickup

CW Advisors announced that it has acquired Aspen Wealth Management and Fernwood Investment Management, both operating to serve high-net-worth clients in Massachusetts, adding $800M to the firm’s assets under management.

Aspen Wealth Management will continue to operate from its headquarters in Waltham, MA, and be led by President William D’Agostino and CEO Mark Khozozian. Fernwood Investment will similarly continue to operate out of its office in Quincy, MA, and be led by founder Thomas Reilly. Fernwood was represented by Surfside Capital in the transaction.

Following the transactions, which have closed, CWA said it now has 14 offices nationwide, 119 employees, and $11B in client assets. The announcement comes at a time when CWA is reportedly seeking to raise capital from new investors, a move that could include current backer and majority owner Audax Group selling some or all of its stake in the firm.

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Written By: Dakota

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