Adviser Investments And Ropes Wealth Advisors Unite To Forge $15 Billion Firm Serving High Net Worth And Ultra-High Net Worth Individuals And Institutions
Newton, Massachusetts-based Adviser Investments, founded in 1994, and Boston-based Ropes Wealth Advisors, founded in 2013, are merging to establish a bespoke advisory firm that will manage nearly $15 billion in client assets.
The two RIAs employ more than 185 professionals including wealth advisors, portfolio managers, fiduciary and financial planning specialists, and client service professionals. The combined firm will be owned by the management teams of Adviser Investments and Ropes Wealth Advisors, along with Summit Partners, a global growth equity investment firm. Summit Partners previously invested in Adviser Investments in 2020 to support its national expansion.
“We’re thrilled to partner with Ropes Wealth,” Adviser Investments CEO Mario Ramos said in a press release. “With this combination, we will deepen our leadership position serving wealth management clients with complex planning needs. Equally important, this transaction reinforces our role as one of the leading merger partners of choice for RIA firms and other independent wealth management firms across the country.”
The partnership – which aims to create an industry powerhouse with more comprehensive and tailored solutions – will operate under a planning-first, fiduciary-only model where clients receive personalized guidance. Their teams cater to high net worth and ultra-high net worth clients.
Services include financial, tax and estate planning; 401(k) advisory services; institutional-quality investment management across active, passive and tactical strategies within public and private markets; as well as philanthropic transfer consultation, and trustee and fiduciary services.
Adviser Investments serves families, businesses, trusts, foundations and institutions. The firm has several offices, including in Boston, the San Francisco Bay Area and Dallas, with more than 5,000 clients nationwide. Its staff includes research, operations, marketing, technology and M&A teams. Ropes Wealth Advisors is a fee-only firm serving individuals and families, charitable organizations, businesses, and pension and profit-sharing plans.
“Adviser shares our vision, values and commitment to delivering exceptional service to sophisticated individual and institutional clients,” said Michelle Knight, CEO and Chief Economist at Ropes Wealth. “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 will retain its offices in Boston’s Prudential Tower and maintain a close relationship with its former parent company, the global law firm Ropes & Gray. It will continue as the preferred provider of wealth management services to Ropes & Gray clients and partners.
Brenda Diana and Martin Hall, co-chairs of the private client group at Ropes & Gray who played key roles in establishing and expanding Ropes Wealth Advisors, will join the Adviser Investments management team. Diana will serve as the Chief Fiduciary Officer and Hall will become Managing Director.
Diana and Hall also will offer legal services through a newly established law firm specializing in domestic and international estate, tax and charitable planning, estate settlement, and fiduciary administration. This collaboration between Adviser Investments and Diana and Hall will enable clients from both entities to receive tax planning and coordinated legal advice.
“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.”
Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at clatham@wealthsolutionsreport.com.
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