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Boston, Mass – November 16, 2023 – (EFE), America’s top independent wealth planning¹��and workplace²��investment advisory firm, today announced the acquisition of PRW Wealth Management (PRW), a Registered Investment Advisor that provides a comprehensive range of wealth management capabilities, with a focus on strategic planning, investment management and the transfer of wealth.

Headquartered in Quincy, Massachusetts, PRW manages over $500 million in assets under management (AUM) for approximately 200 clients, including individuals, families, endowments and foundations, and business owners.³

This marks the fifth acquisition by EFE over the past thirteen months and continues the expansion of the firm’s wealth planning capabilities across key regions nationwide.

“We are thrilled to officially welcome the PRW team and their clients to our firm,” said Suzanne van Staveren, executive vice president, chief financial officer and chief operating officer of ��Ѩ��Ƶ. “With this acquisition, we can better serve clients in the greater Boston area, as well as nationwide, who may have more complex wealth management needs that require the right expertise to address their challenges and opportunities while also providing them with a well-defined roadmap to achieve their goals.”

“��Ѩ��Ƶ has a tremendous reputation, and their continued recognition from industry peers is a testament to their excellence and leadership,” said Bill Payne, co-founder of PRW. “Their overall values, personalized and dedicated approach to wealth management and commitment to their clients closely aligns with how we’ve operated PRW for the last three decades.”

“Joining ��Ѩ��Ƶ provides us with a depth of additional resources and the ability to maintain the feeling of a multi-family office. We look forward to delivering cost-effective and tax-efficient customized portfolios built upon the investment philosophy of Nobel Prize-winner and ��Ѩ��Ƶ co-founder Dr. William F. Sharpe,” said Rick Renwick, co-founder of PRW.

Growth through acquisition remains a key area of focus for EFE, and the firm expects activity will increase in the coming quarters as it continues conversations with strong partners.

“��Ѩ��Ƶ continues to be an important acquirer within the financial advisory industry,” said Dan Seivert, chief executive officer at Echelon Partners, who served as transaction advisor to PRW Wealth Management. “The acquisition will be highly beneficial for both firms in the long-term.”

This transaction follows EFE’s acquisitions of Align Wealth Management (2023), Erman Retirement Advisory (2022), Herrmann & Cooke (2022), Smart Investor (2022), and Viridian Advisors (2021).

Baker & McKenzie LLP and K&L Gates LLP served as EFE’s counsel in connection with the transaction. Ballard Spahr LLP served as PRW’s counsel.

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