Wayne, PA – Alden Investment Group proudly announces a strategic partnership with Columbia Advisory Partners (CAP), a boutique, tech-driven SEC-registered RIA based in Spokane, WA.
This move is part of Alden’s broader strategy to expand its turnkey asset management platform (TAMP), Alden COVE, by adding $225 million in assets, with a roadmap towards a full acquisition.
CAP’s advisors and client accounts benefit from an additional layer of service through this partnership, leveraging Alden’s technological and operational resources. Steve Larsen, founder of CAP, said, “The integration of CAP’s proprietary alternative investment platform with Alden’s TAMP is a game-changer for advisors, creating a seamless bridge between traditional and alternative asset classes for our clientele.”
This acquisition establishes Alden’s presence on the West Coast, providing a base for advisor recruitment, succession planning and acquisitions. Notably, CAP’s proprietary alternative investment platform will be integrated into Alden’s TAMP, allowing for diversified investments within one custodial account and unified reporting of traditional and alternative assets.
With Alden’s TAMP platform’s client assets rapidly approaching $500 million within seven months of launching, the CAP agreement significantly increases Alden’s scale. This deal also increases Alden’s firmwide assets, which will grow to over $1.6b as part of this partnership. CAP gains access to the resources of a larger, innovative firm, aligning with its tech-driven approach to client solutions.
“One of my goals with Alden COVE has always been to deliver not just bespoke service and modern technology to financial advisors, but also to provide clients with access to alternative investments that complement their traditional assets, and mirror the same experience,” said Aaron Williams, Managing Director of Alden COVE. “We are very excited to onboard CAP to the Alden COVE Platform. CAP’s principals have been a pleasure to work with throughout the entire transaction. It became evident to Steve and myself early on that this was more than a vendor-client relationship, and our firms shared a cohesive vision of what a modern investment platform should look and feel like.”
“We at Alden are incredibly excited to embark on this partnership with CAP Northwest,” said Gregory Hansell, co-CEO of Alden’s Private Client Group. “From the outset, we have been thoroughly impressed by their rapid growth and forward-thinking approach to leveraging technology. CAP’s ability to innovate in developing modern cloud financial solutions, particularly in the realms of alternative investments and financial planning, truly sets them apart. Together, we believe that Alden and CAP will become a powerhouse in the finance world, driving forward with a shared vision for excellence, innovation, and strategic growth. This partnership is not just a step towards expanding our capabilities; it’s about setting a new standard for what is possible in our industry.”
This partnership allows Alden to seamlessly offer clients the best of both worlds: traditional assets managed by institutional asset managers in UMA format and a variety of alternative investments delivered digitally through one custodial account with transparent reporting.
This partnership guarantees CAP’s advisors and clients access to Alden’s comprehensive services, ensuring minimal disruption. CAP executives will receive equity and cash, playing critical roles in Alden’s platform expansion, recruitment efforts, and the distribution of investment solutions.
About Alden Investment Group
Alden is an innovative investment firm that aspires to be the premier platform for financial advisors, banks, and investment groups seeking to offer clients investment products and services. The Alden Investment Group manages several regulated entities, including registered investment advisors, a broker/dealer, and several investment funds, and is active in asset management, insurance, and advisory solutions. Alden provides more and takes less from those it works with. The firm has a significant commitment to technology, transparency and operational efficiency. Alden offers a broad and diverse menu of services delivered efficiently and securely, allowing groups that work with Alden to have superior results for themselves and their clients.
About Columbia Advisory Partners
Columbia Advisory Partners, LLC (CAP Northwest) manages over $225 million in assets for retirees and small business owners across the Pacific Northwest. Established in 2004 and headquartered in Spokane, WA, CAP Northwest delivers custom portfolios and an industry-leading alternative investments platform. CAP Northwest advisors include Certified Financial Planners, Certified Public Accountants, and Chartered Financial Analysts who give the firm deep knowledge and expertise in planning and investment strategy. A hallmark of the firm’s approach is its personalized financial plans, emphasizing its dedication to a tailored wealth management approach.