Aspen Standard Wealth has acquired Blue Sky Wealth Advisors, a registered investment advisor based in New Bern, North Carolina.
Financial terms of the deal were not disclosed.
BlueSky, founded in 1999, manages $1 billion in assets.
The firm specializes in investment management and financial planning, with a focus on tax strategies, passive income, and estate planning for clients.
BlueSky CEO David Blaine said: “BlueSky has achieved steady growth over the past 25 years as we provide our clients with highly personalized, holistic financial advice. We are delighted to accelerate this path in partnership with Aspen, with our clients’ long-term needs and aspirations guiding what we do.”
Sherman & Company was the investment bank for the BlueSky transaction.
The acquisition is the latest in a series by Aspen Standard Wealth as it begins operations in late 2024.
Other deals include MG Financial, SKY Investment Group, New England Private Wealth Advisors, Martell Wealth Advisors, DHK Financial Advisors, and Symmetry.
The Aspen Standard Wealth approach includes acquiring RIAs and maintaining their operational independence. The company itself does not act as a registered investment adviser.
Aspen CEO Ellie Kassem-Lakha commented: “Blue Sky has built something rare: a company that has grown consistently over decades by doing the right thing for customers.
“David and his team share our belief that great consulting firms are built for the long term. We are excited to support their next chapter while preserving what made BlueSky exceptional.”
“Aspen Standard Wealth Adds $1bn in Assets with BlueSky Purchase” was originally created and published by Private Banker International, a brand owned by Global Data.
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