Aspen Standard is set to purchase SKY Investment for a staggering $880 million
Aspen Standard Wealth, a firm known for creating enduring partnerships rather than buying firms with the intent to resell them, has announced the acquisition of SKY Investment Group. This marks Aspen's third successful acquisition.
Founded in 2005 and based in Hartford, Connecticut, SKY Investment Group is a Registered Investment Advisor (RIA) with $880 million in assets under management (AUM). The firm is recognised for its expertise in assisting family principals with multigenerational education and responsible wealth transfer. SKY Investment Group offers comprehensive investment and wealth management services to a diverse clientele.
Robert Bingham, CFA, Founder and Chief Investment Officer of SKY Investment Group, described Aspen Standard Wealth as a "durable platform". He expressed excitement about supporting SKY's next phase of growth.
Aly Kassim-Lakha, CEO of Aspen, echoed these sentiments, stating that Aspen respects SKY's legacy, culture, and long-term vision for the future. Kassim-Lakha also expressed excitement about supporting SKY's growth with long-term capital, infrastructure, and partnership.
Aspen Standard Wealth distinguishes itself through a unique approach to RIA partnerships. The firm, which was built with firms like SKY Investment Group in mind, aims to develop the next stage of SKY's growth story.
SKY Investment Group is described as deeply client-centric, values-led, and forward-thinking by Kassim-Lakha. This acquisition is expected to further strengthen Aspen Standard Wealth's position in the industry.
In the past, Aspen Standard Wealth has acquired the independent consulting firms BlueSky Wealth and Crestview Advisors in 2021 and 2023, respectively. With the addition of SKY Investment Group, Aspen continues to expand its footprint in the RIA space.
Kassim-Lakha expressed his appreciation for SKY's commitment to its clients and its values, stating that Aspen is honoured to support SKY's growth. He also stated that Aspen Standard Wealth is excited about the opportunity to learn from SKY's unique approach to wealth management and to continue to build upon SKY's legacy.
The partnership between Aspen Standard Wealth and SKY Investment Group is expected to be beneficial for both parties, with Aspen bringing its resources and infrastructure to support SKY's growth, and SKY bringing its deep understanding of its clients and its commitment to responsible wealth management.
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