Atlas Financial Services has acquired Central Wealth Management (CWM), a registered investment advisory (RIA) firm based in Madison, Wisconsin, the US.

The deal increases Atlas’ total assets under management to more than $230m.

As agreed, CWM will now operate under the Atlas brand while maintaining its Wisconsin office.

Eric Heiting, the founder of CWM, will take on the role of president and head of wealth management at Atlas. Heiting has more than 20 years of experience in the financial services sector, specialising in alternative investments.

Heiting said: “Atlas’ forward-thinking vision and deep commitment to innovation address the limitations that have long made traditional wealth management feel rigid and outdated.

“Firms like ours must evolve to be at the forefront of that transformation and this move positions us to bring broader solutions and a modern AI experience to our clients.”

In a statement, Atlas said that the firm is working to increase advisor productivity by automating middle and back-office workflows. This will enable the advisors to spend more time on client interactions and strategic planning.

In addition, Atlas plans to expand its family office services to cater to the mass affluent market, targeting clients with assets ranging from $50,000 to $75m.

These services will include access to institutional-grade alternative investments, comprehensive tax and estate planning, and customised portfolio development.

Atlas CEO and CIO Tobias Heaslip said: “The acquisition of CWM marks a significant milestone in Atlas’ forward growth strategy by not only expanding our capabilities with a bench of experienced advisors but also strengthening our ability to service a broader spectrum of clients.”

Atlas is the parent company of ATFS Advisers, which is registered with the Securities and Exchange Commission.

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