The $10B AUM firm is continuing to build scale across the US.
Composition Wealth is to merge with Tacoma, Washington-based Edgewater Wealth Management, bringing a $900 million advisory team into the national registered investment advisor as it continues to build scale across the US.
The Los Angeles-headquartered firm, which oversees more than $10 billion in client assets and employs 125 people, said the 16-person Edgewater group — including eight wealth advisors — is joining from Northwestern Mutual Private Client Group.
“Edgewater fits perfectly into our culture,” said Nate Angelo, CEO of Composition Wealth. “We couldn’t be more excited with the professionalism, energy, and focus of this group. The team’s commitment to an incredibly high standard of care for their clients aligns with our mission of delivering frictionless advice to clients. We look forward to amplifying Edgewater’s success through enhanced investment capabilities, marketing solutions and operational efficiencies.”
Edgewater was launched in 2019 by private wealth advisors C.W. Middleton and Tyler Hjelseth CFP, who set out to create what they described as a durable and evolving support structure for clients.
The firm expanded rapidly, doubling its size within two years. In 2022, Kevin Johnson, CLU, ChFC, joined the partnership, further accelerating growth driven by a service model centered on guiding clients through complex financial decisions.
“We had plenty of options when we decided to make a change and determined that Composition Wealth was the best fit for our team and clients,” said Middleton. “The firm is high-energy and nimble, and focused on providing impactful experiences, advice and technology designed to enhance our clients’ overall financial success. The firm’s integrated approach allows us to leverage experts in investments, tax planning, estate strategies, retirement planning and other critical areas to create comprehensive plans for each client’s needs.”
Founded in 2007, Composition Wealth has been focused on expanding its national advisor network through partnerships aimed at delivering personalized planning and high-end service. The addition of Edgewater significantly strengthens the firm’s footprint in the Pacific Northwest.
