Acquiring $880 Million Firm: Aspen Standard Takes Over SKY Investment

In a significant move, Aspen Standard Wealth has announced the acquisition of SKY Investment Group. This partnership marks Aspen Standard Wealth's third successful acquisition, further solidifying their position in the wealth management industry.

Based in Hartford, Connecticut, SKY Investment Group is a Registered Investment Advisor (RIA) with $880 million in assets under management (AUM). Established in 2005, the firm is known for its deep client-centric, values-led, and forward-thinking approach. Robert Bingham, CFA, serves as the Founder and Chief Investment Officer of SKY Investment Group.

The acquisition is particularly notable given Aspen Standard Wealth's unique approach to RIA partnerships. Unlike many firms that buy with the intent to resell, Aspen Standard Wealth focuses on creating enduring partnerships. This approach has been evident in their previous deals, including the acquisitions of New England Private Wealth Advisors and Summitry.

Speaking about the acquisition, Aly Kassim-Lakha, CEO of Aspen Standard Wealth, expressed his enthusiasm, stating, "We are thrilled to welcome SKY Investment Group to our family. They are the kind of firm we built our company for." He further added, "We aim to support SKY Investment Group's next phase of growth with long-term capital, infrastructure, and partnership."

For SKY Investment Group, the acquisition represents a strategic move towards sustainable growth. Aspen Standard Wealth's strategy emphasizes preserving the acquired firm's identity, empowering its leadership, and fostering sustainable growth. The firm values SKY Investment Group's legacy, culture, and long-term vision for the future.

SKY Investment Group offers comprehensive investment and wealth management services to a diverse clientele. They are recognized for their expertise in assisting family principals with multigenerational education and responsible wealth transfer. This alignment in values and services makes Aspen Standard Wealth a durable platform and a respectful partner for SKY Investment Group.

The exact date of the corporate overlap between Aspen Standard Wealth and SKY Investment Group is not publicly available. However, this acquisition is expected to strengthen both firms' positions in the wealth management sector, providing a promising future for clients of both organisations.