Adviser Investments and Ropes Wealth Advisors Join Forces, Creating a Combined Entity With $15 Billion in Client Assets

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

NEWTON, Mass. and BOSTON, May 16, 2023 /PRNewswire/ -- 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 retain its brand, 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.

Looking Ahead

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."

About Adviser Investments

For 30 years, Adviser Investments, LLC has served families, businesses, trusts, foundations and institutions, providing tailored wealth management services including financial, tax and estate planning, 401(k) advisory services, as well as balanced portfolios of core index funds, ETFs and select alternative investments. Adviser is a nationally recognized brand with over 5,000 clients across the U.S. and multiple offices in locations including Boston, the San Francisco Bay Area and Dallas. The firm employs over 130 professionals including fully staffed client service, research, operations, marketing, technology and M&A teams. Over the last decade, the firm has expanded both organically and through targeted partnerships. 

Adviser Investments is routinely named among Barron's top independent financial advisors and the Financial Times' 300 top registered investment advisors, and it has been consistently chosen as one of the best places to work in financial services in national and regional surveys.              

About Ropes Wealth Advisors

Ropes Wealth Advisors, LLC was formed in 2013 and opened its doors as a registered investment advisor (RIA) in 2015. It is a nationally recognized fee-only firm with a mission to preserve and enhance the wealth and legacy of the families and institutions it serves. The firm prides itself on the core values of integrated perspective, uncompromising integrity, effective stewardship, generational continuity, sustainable investment results, communication and education. Ropes Wealth Advisors manages investments and provides financial planning services, assists with gift and estate planning, prepares tax returns, consults on philanthropic transfers, and provides trustee and other fiduciary services. It serves high-net-worth individuals and families, charitable organizations and businesses as well as pension and profit-sharing plans. 

Press inquiries please contact:
Donald Cutler or Joe Kuo
Haven Tower Group
dcutler@haventower.com or jkuo@haventower.com
424 317 4864 or 424 317 4851                                                                                                                      

To discuss partnership opportunities with Adviser Investments, please contact:

Steven Gaven 
sgaven@adviserinvestments.com

Awards and recognitions referenced above do not evaluate client experience or investment returns, nor are such a guarantee of future performance or satisfaction. Adviser Investments did not pay a fee to participate in the awards referenced herein.

The Barron's America's Best Independent Advisors ranking (awarded to Adviser Investments, LLC, 2013–2020) considers factors such as assets under management, revenue produced for the firm and quality of practice as determined by Barron's editors. The award sponsor has not disclosed how many firms were surveyed or considered for this recognition nor the percentage of total participants that ultimately received recognition. Prior to 2019, the award was called the Barron's Top 100 Independent Wealth Advisors.

The Barron'sTop Advisor Rankings by State (Massachusetts) (awarded to Adviser Investments, LLC, 2014–2021), also referred to as Barron's Top 1,200 Financial Advisors, considers factors such as assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. According to Barron's, "around 4,000" advisory firms were considered for this recognition in 2021, with about 1,200 firms receiving recognition.

The InvestmentNews Best Places to Work for Financial Advisers award (awarded to Adviser Investments, LLC, 2018–2022) is conducted in partnership with employee survey firm Best Companies Group. Winners are selected based on a two-part survey completed by employers and employees. Employers report their organization's workplace policies, practices and demographics. Employees complete a survey designed to measure the employee experience in areas such as leadership and planning, pay and benefits, corporate culture and communications, and work environment. Scores from the employee survey represent three-quarters of the weight of the final rankings. Firms do not pay a fee to participate. To be eligible for the award, a firm must be a registered investment advisor or broker-dealer, have been in business for at least one year and have at least 15 full-time employees. In 2018, 50 firms were named to the list; in 2019–2022, 75 were named. The award sponsor has not disclosed how many firms were surveyed or considered for this recognition nor the percentage of total participants that ultimately received recognition.

The Financial Times300 Top Registered Investment Advisers (awarded to Polaris Wealth Advisory Group, LLC, 2020) is an independent listing produced annually by Ignites Research, a division of Money-Media, Inc., on behalf of the Financial Times. The FT 300 is based on data gathered from RIA firms, regulatory disclosures and the FT's research. The listing reflects each practice's performance in six primary areas: Assets under management, asset growth, compliance record, years in existence, credentials and online accessibility. Over 750 qualified firms applied for the award, 300 of which were selected (40%). This award does not evaluate the quality of services provided to clients and is not indicative of the practice's future performance. Neither the RIA firms nor their employees pay a fee to the Financial Times in exchange for inclusion in the FT 300.

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SOURCE Adviser Investments, LLC