Atlas, a next-generation financial firm, announced the acquisition of Central Wealth Management (CWM), an RIA firm based in Madison, Wisconsin. This acquisition increases Atlas’ firm-wide assets under management to over $230 million, with CWM’s operations and team fully integrated under the Atlas brand while maintaining its Wisconsin office.
Tobias Heaslip, CEO and CIO at Atlas, stated that the acquisition of CWM marks a significant step in the firm’s growth strategy. He highlighted the expansion of capabilities through experienced advisors and an enhanced ability to serve a broader client base, expressing enthusiasm for the full integration of the team and continued innovation in wealth management.
As part of the acquisition, Eric Heiting, CWM’s founder, assumes the role of President and Head of Wealth Management at Atlas. The entire CWM team will join him. With over 20 years of financial service experience and deep expertise in alternative investments, Mr. Heiting will serve as Atlas’ lead advisor, focusing on recruiting experienced advisors and leveraging the firm’s AI-driven technology to modernize wealth management practices.
Mr. Heiting commented on the acquisition, noting that Atlas’ forward-thinking vision and commitment to innovation address long-standing limitations in traditional wealth management. He emphasized the necessity for firms to evolve and stated that this move positions them to offer broader solutions and a modern AI experience to clients.
Atlas, backed by investors including Lightspeed Venture Partners, L Catterton, Alumni Ventures, Activant Capital, Tribe Capital, and Day One Ventures, was founded to bring a modern approach to financial management. The firm combines industry expertise with cutting-edge technology, powered by agentic AI, to enhance advisor productivity by automating middle and back-office workflows, thereby allowing more time for client engagement and strategic planning. All advisory services are offered through ATFS Advisers LLC, an investment advisor registered with the Securities and Exchange Commission (SEC). The AI utilized on Atlas’ platform is not designed to replace human advice, interact directly with clients, provide investment advice, or make investment decisions.
Mr. Heaslip added that Atlas is entering its second year with significant momentum and a clear focus on sustaining it. He outlined plans for 2025, including executing growth strategies, introducing new offerings, and deepening relationships with wealth managers and their clients.
Furthermore, Atlas will expand its family office-level services to the mass affluent market, serving clients with assets ranging from $50,000 to $75 million. These services include access to institutional-grade alternative investments, integrated tax and estate planning, and personalized portfolio creation. With an expanded team, Atlas aims to accelerate its mission of delivering an inclusive, tech-enabled, and advisor-driven model that redefines modern wealth management.
