Edward Karan launches Aspire Wealth Advisory Group with over $100M AUM

Former Citi Global Wealth executive Edward Karan has launched Aspire Wealth Advisory Group in New York with more than $100 million in assets under management. The boutique adviser is targeting high-net-worth clients who need institutional-style planning across investments, taxes, estates and cross-border complexity.

Why it matters: - Aspire is entering the market with more than $100 million in assets under management, a sign of early demand for its model. - The firm is aiming at wealthy families and professionals who want institutional-caliber advice without meeting traditional ultra-high-net-worth thresholds. - The launch widens access to services that have often been reserved for large institutions and the wealthiest households.

What happened: - Aspire Wealth Advisory Group announced its public launch on July 8, 2026, in New York. - Edward Karan founded the boutique registered investment adviser after more than 30 years advising institutions, executive teams, family offices and high-net-worth individuals. - Karan previously served as managing director and global head of institutional sales at Citi Global Wealth at Work. - Aspire said it is building around a personalized, institutional-caliber approach to wealth management.

The details: - Aspire describes its model as a family's personal CFO, coordinating investments, tax planning, estate considerations, cash flow and broader financial decisions. - The firm works with Obsidian CIO to add outsourced institutional investment management, manager due diligence and operational infrastructure. - Aspire says the setup supports advice for multi-generational family capital. - The firm is focused on clients with domestic and cross-border planning needs. - Aspire said the niche includes clients below traditional ultra-high-net-worth levels who still need sophisticated guidance and a highly personalized experience. - In a statement, Karan said the initial growth reflects demand for a more personalized, institutional-caliber approach to wealth management. - Karan also said families want a strategic partner to coordinate different parts of their financial lives. - Naz Vahid, co-chair and president of Oxford Strategic Legal Advisors and a member of Aspire's advisory board, said she is proud to support the firm's growth. - Aspire said Vahid is an uncompensated advisory board member and not a client.

Between the lines: - Aspire is trying to bridge a gap in the wealth market between boutique service and institutional resources. - The strategy suggests a push to serve clients who are affluent enough to need complex planning, but not always big enough to be top-tier targets for major private banks. - The Obsidian CIO partnership signals that Aspire wants to lean on outside capabilities instead of building every function in-house.

What's next: - Aspire plans to deepen its advisory capabilities. - The firm also plans to expand its work with individuals and families facing domestic and cross-border complexity. - Aspire expects to keep investing in technology and specialized partnerships to support a highly personal client experience. - The firm's long-term pitch is to help clients build, preserve and transfer wealth with confidence.

The bottom line: - Aspire is launching as a niche wealth adviser for clients who want sophisticated, institution-style planning delivered with a boutique touch. - More information