$3.5 billion
firm joins World to expand its growth strategy and enhance its
offering to advisors and clients
SANTA
BARBARA, Calif., July 17,
2024 /PRNewswire/ -- Leading financial advisory firm
World Investment Advisors LLC (World), formerly Pensionmark,
announced today that it has acquired Boston Harbor Wealth Advisors,
LLC (BHWA), an independent financial services firm located in
Westborough, Mass. Specializing in
comprehensive financial planning and goal-oriented investment
management for individuals, families and businesses, BHWA has over
$3.5 billion in assets under
management (AUM), 76 team members, and 15 offices across the
Northeast and Ohio.
The partnership combines BHWA's strong leadership, desirable
geographical locations and industry-leading capabilities with
World's centralized support model, multi-custodian offering, modern
tech stack and lead generation resources. BHWA advisors will
benefit from comprehensive tools and systems to help grow their
businesses, along with best-in-class solutions to offer their
clients.
"We are delighted to welcome the Boston Harbor team to the World
family. In addition to an incredible group of financial 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," said Troy
Hammond, CEO of World Investment Advisors. "This partnership
further solidifies World as the destination of choice for
growth-focused advisory firms."
"Our partnership with World enables us to enhance and expand our
existing acquisition strategy and provides a tremendous opportunity
for our advisors and clients," said Matthew
Davis, CEO of BHWA. "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."
This is World Investment Advisors' third acquisition in the past
nine months and its second with more than $3
billion in AUM. Underscoring its commitment to wealth
management, World Investment Advisors now has $11.5 billion in total wealth AUM, comprising 64%
of overall firm revenue.
BHWA was represented by DeVoe & Company, a leading
consulting firm and investment bank to RIAs.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in
Iselin, N.J., and is a nationally
ranked, full-service insurance and financial services organization
providing individuals and businesses with top products and services
across personal and commercial insurance, employee and executive
benefits, retirement and financial planning services and human
capital management solutions. Since its founding in 2011, World has
completed more than 195 acquisitions and serves its clients from
more than 300 offices across the United
States. World is ranked #28 on the 100 Largest Brokers of
U.S. Business list by Business Insurance, ranked #15 on the
Top 100 P&C Agencies by Insurance Journal and ranked #19
on the Top 50 Personal Lines Agencies by Insurance Journal.
For more information, please visit www.worldinsurance.com.
About World Investment Advisors LLC
World Investment Advisors, formerly Pensionmark Financial Group,
is a network of more than 350 advisors and staff across more than
65 U.S. locations with thousands of retirement plan and wealth
management clients. The World Investment Advisors network of
professionals includes wealth management, defined contribution,
defined benefit, terminal funding, not-for-profit, and
executive/deferred compensation specialists. For more information
please visit www.worldadvisors.com.
Advisory services offered by World Investment Advisors, LLC.
Securities offered by Pensionmark Securities, LLC. World Investment
Advisors, LLC is affiliated through common ownership with
Pensionmark Securities, LLC.
About Boston Harbor Wealth Advisors LLC
Boston Harbor Wealth Advisors is headquartered in Westborough, Mass., and is an independent
financial services practice whose advisors specialize in financial
planning and investment management. With more than $3.5 billion in assets under management, and 15
offices throughout the Northeast and Ohio, the 76-person team is comprised of
financial advisors, client service professionals and operations
specialists. For more information, please
visit www.bostonharborwealth.com.
Contact: Donald Cutler,
dcutler@haventower.com
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SOURCE World Investment Advisors