After 20 years in business serving more than 350 clients and managing approximately $2.9 billion in assets (as of 12/31/2024), New England Private Wealth Advisors (NEPWA) made the decision to partner with Aspen Standard Wealth. Although NEPWA could have partnered with any number of active RIA acquirers, founder Ira Rapaport very specifically chose to join Aspen, an acquirer that serves as a permanent home and long-term partner for successful RIAs. Below, Ira expands on his decision-making process and why Aspen stood out among the competition for its commitment to preserving NEPWA’s legacy.
Ira, tell us more about your decision-making process in choosing to partner with Aspen. Why, ultimately, did you select Aspen?
I’ve always seen myself as an entrepreneur, so it was important to find a partner who would allow NEPWA to maintain our entrepreneurial spirit while supporting our long-term goals. With Aspen, we found exactly that. This partnership allows me to continue managing the firm alongside our talented team while gaining additional resources to plan for the future.
We were also looking for a permanent home for NEPWA—one that would ensure our firm, our name, and our people will be here to serve not just our clients, but their children and grandchildren for generations to come.
What sets Aspen apart is the commitment to let successful advisors do what they do best: serve clients. The Aspen team provides infrastructure and support behind the scenes without disrupting the culture, client relationships, or identity we have built.
In working through this process with Aspen, we have found their leadership team shares the same values that we, and our clients, find important. They have proven to be accessible, transparent, easy to work with, and extremely knowledgeable. I look forward to continuing in my role as CEO of NEPWA and working closely with the Aspen team to build a bright future together.
For many RIA leaders, preserving the legacy they’ve built with their firms is paramount. How important is legacy to you, and what does that look like?
Preserving NEPWA’s legacy was one of the most important factors in our decision. I started the firm over 20 years ago, and since then we’ve built something truly special. Many of our clients have been with us for nearly the entire journey—and they’re more than just clients; they’re close friends. That sentiment extends to our team as well. Over half of the NEPWA team has been together for more than 10 years, and many for over 15. We’ve grown this firm together, and the relationships we have—with both clients and colleagues—are the heart of what we do.
We hear it often from clients: they want us to be there for their children and grandchildren. That made finding a permanent home for NEPWA a top priority. Aspen’s model respects and protects what we’ve built. It allows us to continue nurturing those multi-generational relationships without disrupting the culture, trust, or chemistry that defines who we are.
In this business, client relationships are everything. How do you build relationships with your clients, and how will Aspen enable you to continue to do so?
Client relationships are the foundation of our business. We build them through trust, transparency, and a consultative, educational approach. We’re always responsive and communicative—those are non-negotiables for us. Aspen’s model allows us to preserve that high-touch client experience, ensuring we remain our clients’ trusted advisors for years to come.
Aspen is a permanent partner for RIAs like NEPWA. How unique is that in this industry, and why was it so important for you?
Mergers and acquisitions are very common in our industry, but most are led by large national RIA aggregators, where a firm’s identity, culture, and service model often get diluted or lost in the process. That was something we wanted to avoid.
With Aspen, we found a true partner—one that shares our mission and will allow us to maintain our name, our independence, and the high-touch service our clients have come to expect. We remain SEC-registered, continue to operate as fiduciaries, and retain the culture that has defined NEPWA for more than two decades.
That sense of permanency was critical for us. It ensures that we can continue serving not just today’s clients, but future generations, without compromising who we are or how we do things.
What additional resources and capabilities does Aspen provide that will help position NEPWA for further growth?
Aspen brings an experienced board and access to industry thought leaders. We’re excited to tap into their expansive knowledge and expertise, as well as share best practices and ideas with other firms that are part of Aspen’s suite of independently operating RIAs.
Any final words of wisdom for other RIA leaders like you who are exploring potential partners?
Stay focused on what matters most—to you, your team, and your clients. For us, maintaining our culture and delivering the same exceptional client experience was non-negotiable. Partnering with a firm that not only respects those priorities but is committed to preserving them made all the difference.
