RIA Holding Firm Aspen Standard Adds $1B Louisiana RIA
Aspen Standard Wealth, a New York-based holding company that takes majority stakes in registered investment advisors, has acquired Cullen Investment Group, a Lafayette, La.-based RIA with more than $1 billion in assets under management.
The acquisition is Aspen Standard’s fourth this year and 10th since it was launched in 2024 by former private equity investor Aly Kassim-Lakha. Its combined advisories now oversee about $16 billion in assets under management, according to a spokesperson.
“The team at Cullen has built an incredible wealth management offering that places client best interests at the center of everything they do,” Aspen CEO Kassim-Lakha said in a statement. “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.”
Founded in 1986, Cullen uses a value-based approach to investing and offers customized portfolios, according to the announcement. David Bordes, president and founder, and Stephen Nickel, vice president, are the principal owners of the firm, according to its most recent Form ADV.
“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,” Nickel said in a statement.
As a holding company, Aspen is not an RIA but rather the majority owner of multiple firms that retain their brand identities and leadership under the company’s umbrella.
Aspen itself is majority-owned by Alpine Investors and has a staff of about 15.
Its most recent deal was with Denver-based RIA Denver Private Wealth Management, with about $550 million in AUM.
