Endurance Wealth Management to merge with Boston firm

PROVIDENCE – Endurance Wealth Management Inc., a Rhode Island-based investment adviser, is merging with Boston-based Crestwood Advisors Group LLC, Focus Financial Partners Inc. announced on June 26. 

The transaction is expected to close in the third quarter of 2023 and is subject to customary closing conditions, according to a news release. Terms of the transaction were not available. Representatives from both Endurance Wealth Management and Crestwood did not immediately respond for comment.  

Crestwood, a portfolio company of New York-based publicly traded firm Focus Financial Partners, is an independent investment management and wealth advisory firm that offers a suite of investment management and wealth management services to ultra-high and high net worth individuals and families located across the country. 

Endurance Wealth Management, located at 101 Dyer St. in Providence, was formed in July 2009 when members of the Providence office of Marion, Mass.-based Baldwin Brothers reached an agreement to create their own firm. Its founder, Michael Costello, will join Crestwood as a managing partner. 

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“We are excited to welcome such a distinguished and reputable team to Crestwood,” said Michael Eckton, CEO and co-founder of Crestwood. “Michael and his team have created a sophisticated client offering that aligns with our own commitment to providing independent advice and highly tailored client services. We could not have found a better strategic fit to help us expand our presence into Rhode Island.” 

Endurance Wealth Management currently employs 10 people, according to PBN’s 2023 Book of Lists. 

“Crestwood was a natural fit for our firm and clients, and they will enable us to enhance our client service capabilities,“ Costello said. “Crestwood’s deep bench in planning complements our expertise in portfolio management and expands the services we can offer while also preserving the legacy and reputation that I have built over my 30-year career. My team and I look forward to leveraging the breadth of their high-caliber team to enhance our existing and prospective client relationships.”