Aspen Standard Wealth has acquired Cullen Investment Group, an RIA based in Louisiana, US, for an undisclosed sum.
Cullen has been overseeing more than $1bn in assets under management (AUM).
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Based in Lafayette, Louisiana, Cullen functions as an independent, full-service wealth manager and RIA under the regulation of the US Securities and Exchange Commission.
The business was set up in 1986, operating as the sole locally owned and run full-service brokerage in Lafayette, Louisiana.
Cullen principal Stephen Nickel said:“We are excited to partner with Aspen to build upon our legacy as an independent wealth management firm that is focused on providing our clients with a truly holistic experience. That commitment to our clients will never change. ”
Aspen provides its investment advisory services through a network of affiliated RIAs.
Aspen CEO Aly Kassim-Lakha said: “The team at Cullen has built an incredible wealth management offering that places client best interests at the center of everything they do. We look forward to providing them with additional resources and capabilities to build upon that foundation and to continue to serve their clients with exemplary care for decades to come.”
This August, Aspen acquired Denver Private Wealth Management (Denver PWM), a Denver-based wealth advisory business with about $550m in client assets.
Set up in 2014, Denver PWM advises affluent families, company owners, and senior executives.
Earlier this year, in March, Aspen bought BlueSky Wealth Advisors, a New Bern, North Carolina-based RIA.
BlueSky was founded in 1999 and oversees $1bn in assets.
The business focuses on investment management and financial planning, including tax strategies, passive income, and legacy planning.
