Financial Services Firm Expands with Latest Purchase
- CW Advisors acquires $1.2 billion RIA Agili
- Fourth acquisition since PE deal
- Agili founder Michael Joyce becomes executive managing director and mid-Atlantic leader for CW Advisors
- Agili adds over $1 billion in assets under management to CWA
- CW Advisors rebranded from Congress Wealth Management
CW Advisors, a registered investment advisor, has acquired Agili in a deal that adds $1.2 billion of assets under management to its portfolio. The founder and president of Agili, Michael Joyce, will become the executive managing director and mid-Atlantic leader for CW Advisors. This acquisition marks the fourth since private equity firm Audax Private Equity invested in CWA in June 2023. CW Advisors, formerly known as Congress Wealth Management, now has 11 offices, 113 employees, and over $10 billion of assets under management.
Factuality Level: 9
Factuality Justification: The article provides accurate information about the acquisition of Agili by CW Advisors, including details such as the assets under management added, the founder’s new role, and the reasons behind the deal. It also includes relevant background information on both firms and their combined size after the acquisition.
Noise Level: 2
Noise Justification: The article provides relevant information about a business acquisition in the financial industry, with no irrelevant or misleading content. It includes specific details about the companies involved, their assets under management, and the impact of the deal on both parties. The reporting is straightforward without any exaggeration or repetition. While it does not delve into long-term trends or antifragility, it does provide actionable insights for those in the industry by highlighting a notable acquisition and its potential benefits.
Private Companies: CW Advisors,Agili
Key People: Michael Joyce (Founder and President of Agili), Michael Joyce (Executive Managing Director and Mid-Atlantic Leader for CW Advisors), Paul Lonergan (Chief Executive Officer of CW Advisors)
Financial Relevance: Yes
Financial Markets Impacted: CW Advisors and Agili
Financial Rating Justification: The article discusses a merger between two registered investment advisory firms, CW Advisors and Agili, which impacts the assets under management for both companies and potentially their clients. This is relevant to financial topics as it involves investments and wealth management.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.
Deal Size: 750000000
Move Size: No market move size mentioned.
Sector: Finance
Direction: Up
Magnitude: Large
Affected Instruments: Stocks
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