Partnership expands advisory capabilities for both firms, reinforces shared strengths in serving high-net-worth and ultra-high-net-worth individuals, families, trusts and endowments
Adviser Investments and Ropes Wealth Advisors Join Forces. (Credit: Scott Graham on Unsplash)
Adviser Investments, LLC (“Adviser”) and Ropes Wealth Advisors (“Ropes Wealth”) 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 (RIA) that serves families, businesses, foundations and institutions. Ropes Wealth Advisors is an RIA supporting 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 CEO Mario Ramos. “Their expertise in trust, estate and tax planning will be a game-changing addition to our wealth management platform.”
Mr. Ramos continued, “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 combined company will yield enhanced capabilities and new services for clients of both firms.
Michelle Knight, CEO 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, 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.
Enhanced Legal Resources and Growth Opportunities With Ropes & Gray
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. Both were instrumental in the launch and growth of Ropes Wealth Advisors.
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 new relationship between Adviser Investments and Diana and Hall will enable wealth management clients of both Adviser and Ropes Wealth to benefit from leading tax planning and collaborative, coordinated legal advice.
Source: Company Press Release