Aspen Standard Wealth, the New York-based RIA aggregator, has completed its eighth acquisition since launching a formal dealmaking strategy in late 2024, adding Kalamazoo, Michigan-based CWS Financial Advisors and roughly $1.3 billion in client assets. The transaction, announced Tuesday, lifts total assets under management across Aspen's affiliated firms to $15 billion.
CWS Financial Advisors, founded in 1983, operates as a fee-only registered investment advisor with a second office in the San Francisco Bay Area. The firm serves high-net-worth families across the country, blending investment management with financial planning and coordinating with clients' outside attorneys and accountants. Its approach integrates estate planning with day-to-day portfolio decisions for multigenerational households.
“Joining the Aspen platform allows us to continue growing thoughtfully,” said Joe Splendorio, a principal at CWS, in a statement. Aspen CEO Aly Kassim-Lakha noted that the firm was attracted to CWS's reputation for “trusted advice and enduring client relationships across generations.”
The deal comes amid a record-setting pace of consolidation in the RIA space. Echelon Partners reported that RIA buyers announced 106 transactions in the first quarter of 2026, representing 74.6% of total deal activity. Average deal size among RIA buyers rose from $1 billion in the fourth quarter of 2025 to $1.7 billion in the first quarter of 2026. A separate report from Advisor Growth Strategies highlighted that firms with $500 million to $5 billion in AUM are “firmly in the crosshairs” as buyers seek to maximize value.
Aspen positions itself as a permanent home for independent RIAs, not a firm that flips acquired practices. Affiliated firms retain their brand names and leadership while gaining access to Aspen's capital, technology, and back-office resources. The model aims to preserve the personalized service that built each firm's client base.
The CWS deal follows a string of additions. In March, Aspen acquired BlueSky Wealth Advisors, a New Bern, North Carolina-based RIA founded in 1999 with roughly $1 billion in AUM. In February, the firm named Kevin DiSano as president, hiring him from Beacon Pointe Advisors, where he served as chief growth officer. DiSano, a 30-year industry veteran, oversees organic growth across Aspen's affiliated firms.
Aspen made its debut acquisition in November 2024 with Summitry, a San Francisco Bay area practice overseeing $2.8 billion in regulatory assets. Summitry provides institutional-grade services including tailored financial planning, retirement and estate planning, and equity compensation advice. “Human capital is our greatest asset, and having partners that are aligned and committed to building something enduring removes the uncertainty that too many RIAs in this industry are facing,” Summitry CEO Colin Higgins said in a recent blog post.
The broader M&A environment continues to heat up. Hightower Signature Wealth added $5 billion via three firms, pushing its platform assets to $35 billion. Meanwhile, Coastal Bridge Advisors completed a three-way merger to create a $10 billion RIA. Aspen's measured approach, however, emphasizes long-term alignment over rapid scale.
