The merger brings together two significant players in the independent wealth management space. RWA Wealth Partners, which manages approximately $22.46 billion in client assets, will see its family office business fold into Wealth Enhancement’s Reserve platform. This division specifically caters to clients with $25 million or more in investable assets, focusing on complex needs like succession planning, business liquidity events, and multigenerational trust administration.

For Wealth Enhancement, the move represents a strategic push to deepen its technical bench. RWA’s history, rooted in the legacy of the Ropes & Gray law firm’s trust practice, provides a framework for handling intricate fiduciary responsibilities. Michelle Knight, CEO and Chief Economist at RWA, will continue to lead the family office division following the transaction’s expected close in the fourth quarter. The deal also marks an exit for private equity firm Summit Partners, which has backed RWA during its recent growth phase. Upon completion, the combined entity will oversee more than $187.1 billion in client advisory, trust, and brokerage assets.