PROVIDENCE – A local wealth management firm has officially merged with a Boston-based firm.
Crestwood Advisors Group LLC, which has more than $4 billion in assets under management, announced Tuesday that it has completed its merger with Providence-based Endurance Wealth Management Inc. Crestwood says the merger, which was finalized Sept. 1, allows the firm to establish a physical presence in Rhode Island to add to Crestwood’s existing offices in Massachusetts and Connecticut.
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“This partnership is a strategic leap forward for both Crestwood and Endurance,” said Michael Eckton, Crestwood’s CEO and managing partner, in a statement. “By combining our strengths and expertise, we are poised to deliver even more comprehensive investment and wealth management solutions and an unparalleled client experience.”
J. Michael Costello, who founded Endurance Wealth Management in 2009 and had, according to Providence Business News’ 2023 Book of Lists, $1.1 billion in assets under local management, will join Crestwood as a managing partner, Crestwood says. Additionally, eight employees and more than 200 clients will join Crestwood as part of the merger, the firm says.
“Our team is excited to begin collaborating with regional clients and helping them achieve their long-term financial goals,” Costello said in a statement.
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on Twitter at @James_Bessette.
