Transaction strengthens Osaic’s employee-based advisor model and expands reach in the high-net-worth and ultra-high-net-worth markets

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.

Learn more at Osaic.com.

About Osaic

Osaic, Inc. (“Osaic”), a portfolio company of Reverence Capital Partners, is one of the nation’s largest providers of wealth management solutions, supporting approximately 11,000 financial professionals. Osaic’s mission is to empower entrepreneurial advisors to build thriving businesses and fulfill their clients’ dreams. Visit www.osaic.com to learn more.

Securities and investment advisory services are offered through the firms: Osaic Wealth, Inc. and Osaic Institutions, Inc., broker-dealers, registered investment advisers, and members of FINRA and SIPC. Securities are offered through Osaic Services, Inc. and Ladenburg Thalmann & Co., broker-dealers and members of FINRA and SIPC. Advisory services are offered through Ladenburg Thalmann Asset Management, Inc., and Osaic Advisory Services, LLC., registered investment advisers. Advisory programs offered by Osaic Wealth, Inc. are sponsored by VISION2020 Wealth Management Corp., an affiliated registered investment adviser.

About Reverence Capital Partners

Reverence Capital Partners is a private investment firm focused on three complementary strategies: (i) Financial Services-Focused Private Equity, (ii) Opportunistic, Structured Credit, and (iii) Real Estate Solutions. Today, Reverence manages in excess of $13 billion in AUM. Reverence focuses on thematic investing in leading global Financial Services businesses. The firm was founded in 2013 by Milton Berlinski, Peter Aberg and Alex Chulack, after distinguished careers advising and investing in a broad array of Financial Services businesses. The Partners bring, on average, over 38 years of advisory and investing experience across a wide range of Financial Services sectors.

About CW Advisors

CW Advisors is an SEC-registered investment management firm headquartered in Boston, developing innovative wealth solutions for high-net-worth and ultra-high-net-worth individuals, families, foundations, and endowments. CW Advisors, through superior service and sound, objective advice, offers financial planning and investment consulting and management services, tailored to each client’s unique needs to protect and grow assets. CW Advisors provides specialized family office services to meet the distinctive needs of ultra-high-net-worth and multigenerational families. Registration does not imply a certain level of skill or training. For more information, visit www.cwadvisorsgroup.com.

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Finalizing this acquisition represents an important step in our long-term growth strategy and advances our vision for Osaic Advisors, our supported independence model.