Osaic, Inc. (“Osaic”), one of the nation’s largest providers of wealth management solutions and a portfolio company of Reverence Capital Partners, today announced the official close of the transaction to acquire of CW Advisors, LLC (“CW Advisors”), the Boston-based registered investment advisor (RIA) managing $14.5 billion in fee-only client assets. The acquisition marks a significant milestone in Osaic’s ongoing strategy to expand its addressable market and serve advisors and clients across all affiliation models and segments of the wealth spectrum.

As part of the transaction, approximately 150 professionals from CW Advisors—operating across 18 offices nationwide—have joined Osaic. The firm will retain its name and client service model and remain operationally independent, continuing to serve clients as a standalone RIA.

“Finalizing this acquisition represents an important step in our long-term growth strategy and advances our vision for Osaic Advisors, our supported independence model,” said Jamie Price, President and CEO of Osaic. “CW Advisors is an exceptional organization with a talented team and a commitment to delivering outstanding service to high-net-worth and ultra-high-net-worth clients. We’re thrilled to welcome them to Osaic and we look forward to supporting their continued success.”

“This is an exciting new chapter for CW Advisors,” said Scott Dell’Orfano, CEO of CW Advisors. “Joining forces with Osaic empowers us to deepen the value we deliver to our clients while maintaining the independence and high-touch service that define our firm. We’re grateful to everyone who played a role in completing this transaction and look forward to what we can achieve together.”

Kirkland & Ellis LLP and Winston & Strawn LLP served as legal counsel to Congress Acquisition Holdings, LP and Congress Parent, Inc. Ropes & Gray LLP represented Osaic Holdings, Inc. Osaic extends its sincere thanks to the employees and partners across both organizations who contributed to the successful completion of the transaction.