Concurrent Network Adds Advisors with Another $1 Billion in AUM During Third Quarter
Assets Under Advisement For Network Advisors Now Totals $8 Billion with AUM in Excess of $6 Billion
SAN DIEGO, Dec. 17, 2019 /PRNewswire/ -- Concurrent, a partnership of elite independent advisors affiliated with Raymond James Financial Services, Inc. (RJFS) (member FINRA/SIPC), continues to grow both assets and advisor headcount at a rapid pace. In the third quarter alone, the Concurrent network added seven advisor teams, boosting total assets under management by more than $1 billion. Halfway through the fourth quarter, with the addition of two new teams and an independent advisor joining an existing affiliated team, Concurrent added over $600 million more to that total.
"The figures speak for themselves," said Kevin McFarland, Founding Partner, Concurrent. "But the underlying driver of this growth is the number of advisors discovering everything that Concurrent has to offer. We've streamlined the path to independence for entrepreneurial advisors and given them the tools and support they need to control the destiny of their businesses."
McFarland pointed to Laurus Financial Group in Walnut Creek, California, and previously with LPL as typical of the teams choosing to align with Concurrent. Principals R. Hays Englehart, ChFC®, Amir Barar, CRPC®, AIF®, and Craig Weinstein, AIF®, are industry veterans with more than 70 years of collective industry experience who manage $150 million in client assets.
Other teams joining Concurrent in the third quarter are The Kanner Group in Vero Beach, Florida, led by Mike Kanner; The Mayer Group in Boca Raton, Florida, led by Evan Mayer; Casey Wealth Advisors in Daytona Beach, Florida, led by Dennis Casey; and Bell Wealth Advisors in Fairbanks, AK, led by Robert Bell II. During the same time period, Ibrahim Wealth Advisory Group in Somerville, NJ, led by Rob Ibrahim joined 1792 Wealth Advisors of Morristown, NJ, and Tony Wittrock joined Legacy Private Wealth Partners in Denver.
"It's not just entire teams that are finding a new home with Concurrent but also individual advisors looking for personal growth inside a successful independent network," added Mike Hlavek, Founding Partner Concurrent. "So far in the fourth quarter, in addition to Family Planning and Wealth led by Dan Maroney in St. Petersburg, Florida, coming on board, advisor John Jennings left Morgan Stanley to join our network with The Kanner Group in Florida, helping to bring their total AUM to over $400 million. And in Portland, Oregon, one week after Tim Smith, Rob Musante and Doug MacLardy of Columbia Associates left LPL, advisor Brian Campagna joined them from Pacific Capital Resource Group."
Since its founding in 2016, the Concurrent network has grown to include 90 advisors in 36 offices around the country.
"What Concurrent has to offer is obviously resonating with experienced, elite advisors who want to run their own independent businesses while registered with RJFS, but also have access to the support and resources of a much larger network," Hlavek continued.
"All of Concurrent's founders run successful practices of their own, so we truly have a 'for advisors by advisors' mentality. That's what has fueled our success so far and why we're looking forward to an even bigger and better year in 2020," added McFarland.
About Concurrent
Concurrent (concurrentadvisors.com) is an advisor-owned partnership of elite independent organizations working together to realize a common vision of creating a superior client experience while growing their own practices.
Headquartered in San Diego, Concurrent was founded in 2016 and currently serves 90 advisors in 36 offices with more than $6 billion in assets under management (AUM) and over $8 billion under advisement (as of 11/5/2019). Drawing upon their individual and unified strengths, our financial advisors leverage their collective scale to provide an attractive value proposition to both clients and other independent-minded advisors in a highly competitive and constantly evolving wealth management landscape. Concurrent and its network of advisor teams are not registered broker/dealers.
About Raymond James Financial Services
Raymond James Financial Services, Inc. is a financial services firm supporting independent financial advisors nationwide. Since 1974, Raymond James Financial Services Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF) a leading diversified financial services company with approximately 8,000 financial advisors throughout the United States, Canada and overseas. Total client assets are $854 billion. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.
CONTACT: Lisa Aldape
JConnelly
973 850 7314
[email protected]
SOURCE Concurrent
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