World Investment Advisors Acquires $3.5B Wealth Firm
The firm formerly known as Pensionmark is adding 76 staffers and 15 offices across the Northeast and Ohio.
World Investment Advisors, formerly Pensionmark, has acquired Boston Harbor Wealth Advisors, an independent financial services firm headquartered in Westborough, Massachusetts.
The acquisition adds some $3.5 billion in assets under management to World Investment Advisors, according to the announcement, alongside some 76 team members and 15 offices across the Northeast and Ohio. Overall, the combined firm manages $11.5 billion across its national client base.
Partnering with World Investment Advisors will enable BHWA to expand its existing acquisition strategy while providing new opportunity for its advisors and clients, said the firm’s CEO, Matthew Davis.
“Having World’s backing will significantly increase our effectiveness as we expand our recruiting efforts in the RIA space with a more robust and competitive offering for advisors,” David said.
He cited World Investment Advisors’ centralized support model, multi-custodian offering, tech stack and lead generation resources as motivators for the deal.
“We are delighted to welcome the Boston Harbor team to the World family,” said Troy Hammond, CEO of World Investment Advisors. “We are fortunate to be adding premier leadership and team members that will prove invaluable for our advisors, clients and ongoing acquisition growth strategy.”
The acquisition is World Investment Advisors’ third in the past nine months and its second with more than $3 billion in AUM, according to the announcement.
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