CW Advisors, a Boston-based private equity-backed RIA with about $10 billion in assets, is adding Agili, a fee-only firm with about $1.2 billion in client assets under management.

Agili opened in 1993 and works with high net worth individuals and families. As part of the deal, the firm will assume the CW Advisors brand and name while maintaining its offices in Richmond, Va., and Bethlehem, Pa.

“As one of the nation's earliest fee-only financial planning firms, Agili is a pioneer in the sector,” said CW Advisors CEO Paul Lonergan. “The team's responsive and innovative customer service makes them an ideal fit.”

This is CW Advisors' fourth (and largest) deal since Aduax Private Equity made a strategic investment in the firm in 2023.

As part of the deal, Agili president Michael Joyce will become executive managing director and mid-Atlantic leader for CW Advisors. The combined firm will bring CW Advisors to 11 offices across the country and 113 employees.

CW Advisors was previously renamed Congress Wealth Management, which was founded in 2009 and managed approximately $5 billion in assets when it transitioned to CW Advisors in 2023. In April of that year, CI Financial sold its stake in Congress to Audax after initially taking a minority stake in the company in the third quarter of 2020 through its US wealth management arm.

“Our partnership with Audax will enable Congress to accelerate organic and inorganic growth by complementing Congress' pipeline and relationships with Audax's Buy & Build approach and resources,” Congress Chief Strategy Officer Scott Dell'Orfano said at the time.

The firm announced its rebrand as CW Advisors in January. Just this year, CW Advisors won Cubic Asset Managementa Boston-based independent account management firm with more than $700 million in assets under management. CW Advisors also acquired Mercadien Asset Managementa Hamilton, NJ-based RIA with approximately $243 million in assets under management as of February 2023, according to SEC filings.