CW Advisors joins Osaic in landmark wealth management deal focused on ultra-rich clients

Why did Osaic acquire CW Advisors, and how does the $13.5 billion deal reshape its advisory strategy?

Osaic, Inc., one of the largest American providers of wealth management solutions and a portfolio company of Reverence Capital Partners, announced on June 17, 2025, the acquisition of CW Advisors, LLC, a Boston-based registered investment advisor managing $13.5 billion in fee-only client assets. This acquisition brings 140 professionals across 17 offices into Osaic’s ecosystem and marks a significant step in strengthening its high-net-worth and ultra-high-net-worth service platform.

CW Advisors will continue operating as a standalone RIA under its existing name and leadership. The strategic decision to preserve operational independence while integrating CW’s infrastructure into Osaic’s signature employee model signals a hybrid approach to consolidation—one that allows entrepreneurial autonomy backed by institutional scale.

The acquisition, expected to close in the third quarter of 2025, aligns with Osaic’s broader goal of expanding its addressable market and supporting advisors across all affiliation models. While financial terms of the deal were not publicly disclosed, the $13.5 billion asset base significantly boosts Osaic’s presence in the high-net-worth segment, especially among clients referred through CW’s custodial partners, Charles Schwab and Fidelity.

What makes CW Advisors attractive to a consolidator like Osaic in today’s RIA market?

CW Advisors has grown rapidly in recent years under its outgoing private equity owner, Audax Private Equity. Since 2023, CW Advisors has executed more than ten acquisitions, including a $1.3 billion RIA in New Jersey, helping it double its AUM and broaden its national footprint. This growth-by-acquisition strategy made CW one of the most watched RIAs in the upper-tier fee-only wealth advisory space.

By retaining CW Advisors’ established custodial relationships with Fidelity and Schwab, Osaic gains access to referral pipelines that have consistently delivered high-net-worth client inflows. These partnerships are expected to remain central to the firm’s client acquisition strategy.

According to Osaic President and CEO Jamie Price, CW Advisors offers “an institutional-quality platform for fee-only RIA advisors at the upper tiers of the wealth spectrum.” He emphasized the firm’s strong operational scale and advisor alignment as key complements to Osaic’s existing model. CW’s specialized family office services and client-centric model were also identified as strategic differentiators.

How does the CW Advisors deal enhance Osaic’s signature employee model and growth playbook?

Osaic Advisors, the firm’s flagship employee model, is designed to offer entrepreneurial advisors the capital, infrastructure, and support they need to grow without being bogged down by the day-to-day administrative demands of running an independent practice. By integrating CW Advisors into this structure, Osaic strengthens its appeal to advisors serving affluent and multigenerational clients who require tailored services and family office-level planning.

CW Advisors will also benefit from access to Osaic’s broader ecosystem, including Premier Trust and Highland Capital Brokerage, which offer estate and insurance solutions respectively. These capabilities are expected to bolster the firm’s ability to serve ultra-high-net-worth families and institutional clients seeking comprehensive, multigenerational financial planning.

Scott Dell’Orfano, CEO of CW Advisors, remarked that the partnership represents “a pivotal step forward,” offering the firm “access to permanent capital that aligns with our long-term vision and the needs of our clients and advisors.” CW’s management team and select advisors will become shareholders in Osaic, deepening alignment between the two firms.

How are private equity dynamics and advisor sentiment influencing this consolidation trend?

Audax Private Equity’s exit from CW Advisors marks a successful conclusion to a fast-paced expansion period. Analysts tracking the RIA M&A space noted that Audax had applied a classic buy-and-build strategy, backing CW’s leadership as it rapidly scaled via targeted acquisitions and operational investments.

Reverence Capital Partners, which manages over $13 billion in assets, is now accelerating its presence in wealth management through its backing of Osaic. Reverence’s thematic investing approach favors scalable platforms across financial services sectors, including insurance, wealth advisory, and fintech infrastructure. The firm’s leadership includes industry veterans with deep experience in advisory platforms and asset management roll-ups.

Institutional sentiment around the transaction has been cautiously positive, with analysts noting that Osaic’s approach preserves cultural identity and advisory autonomy while leveraging capital scale—a model increasingly favored over full-brand integration or forced M&A absorption.

What does the future look like for Osaic and the broader RIA consolidation market?

Osaic’s acquisition of CW Advisors follows a series of moves in its “Journey to One” strategy, which has unified eight broker-dealer brands into a single platform now supporting over 11,000 advisors and more than $700 billion in client assets. Earlier in 2025, Osaic also acquired Payant Wealth Management Group, and the firm remains open to further transactions involving succession planning, growth capital deployment, and advisor transitions into supported independent models.

CEO Jamie Price previously stated that while internal consolidation efforts were maturing, Osaic continues to explore external growth opportunities that align with its long-term advisor support vision. The firm’s hybrid employee model—where advisors retain autonomy and client control while accessing capital and infrastructure—could position Osaic as a leader in modern RIA consolidation.

Looking forward, the U.S. wealth management sector is likely to see sustained M&A activity. Rising compliance costs, talent shortages, and digital transformation pressures are pushing many mid-sized RIAs toward capital-backed partners. Advisors are increasingly seeking platforms that allow for succession, branding flexibility, and access to estate, insurance, and alternative investment tools.

Osaic’s integration of CW Advisors places it firmly within this trend. Analysts expect the firm to continue acquiring fee-only RIAs that bring client referral strength, custodial flexibility, and high-net-worth exposure to the table. While there is speculation about a potential IPO in the long term, Osaic leadership has indicated a preference for the strategic agility that private ownership provides in the current market cycle.