Home Alts News Two Advisory Firms Merge to Form $15 Billion Wealth Management Business

Two Advisory Firms Merge to Form $15 Billion Wealth Management Business

Adviser Investments LLC and Ropes Wealth Advisors announced they are combining their wealth management businesses to create a bespoke advisory firm providing customized wealth solutions through a “planning-first, fiduciary-only model.”

Established 30 years ago, Adviser Investments is an independent registered investment advisor that serves families, businesses, foundations and institutions. Ropes Wealth Advisors is an RIA that serves families, trusts and institutions.

Together, Adviser and Ropes Wealth manage nearly $15 billion in client assets and have more than 185 employees, including wealth advisors, portfolio managers, fiduciary and financial planning specialists, and client service professionals catering to “high-net-worth and ultra-high-net-worth clients nationwide.” Their services span the full range of wealth management needs, including financial, tax and estate planning as well as institutional-quality investment management within public and private markets and across active, passive and tactical investment 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,” said Adviser chief executive officer Mario Ramos. “Their expertise in trust, estate and tax planning will be a game-changing addition to our wealth management platform.”

The combined company will yield enhanced capabilities and new services for clients of both firms.

Michelle Knight, chief executive officer and chief economist at Ropes Wealth, said, “Adviser shares our vision, values and commitment to delivering exceptional service to sophisticated individual and institutional clients. This excellent cultural and strategic match enables us to enrich our wealth management offerings. I look forward to all that we can achieve together with a combined team, enhanced technology, a shared commitment to employee development, and the deep resources to support industry-leading growth and a personalized service model.”

Ropes Wealth Advisors, previously a wholly owned subsidiary of the global law firm Ropes & Gray, says the company will continue to have its offices in Boston’s Prudential Tower, and maintain close ties to its former parent company, acting as the preferred provider of wealth management services to Ropes & Gray clients and partners.

In a related development, the co-chairs of the private client group at Ropes & Gray, Brenda Diana and Martin Hall, will also join the Adviser Investments management team, with Diana as chief fiduciary officer and Hall as managing director.

In addition to their roles with Adviser, Diana and Hall will continue to offer legal services through a new law firm specializing in domestic and international estate, tax and charitable planning, estate settlement, and fiduciary administration.

The management of Adviser and Ropes Wealth will own the combined firm in partnership with Summit Partners, a leading global growth equity investment firm. In 2020, Summit made a growth capital investment in Adviser to support its national expansion.

“Adviser and Ropes Wealth are highly complementary organizations in terms of both values and vast capabilities,” said Matt Hamilton, a managing director at Summit Partners and board director at Adviser Investments. “This exciting partnership positions the combined firm to be a formidable leader in the wealth advisory space.”

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