Diversify Advisor Network Completes Its Fourth Acquisition of the Year with the Addition of $645M Key Advisors Wealth Management

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Apr 11, 2024, 06:00 ET

Firm's Move from Independent to Partner Platform Emphasizes Appeal of Diversify's Multiple Affiliation Model Strategy

SANDY, Utah, April 11, 2024 /PRNewswire/ -- Diversify Advisor Network ("Diversify"), the advisor-founded, and advisor-led wealth management firm, today announced that Key Advisors Wealth Management, a Delaware-based fee-only firm with $645 million in assets under management, is joining Diversify Wealth Management to take advantage of its Partner Platform affiliation model.

Key Advisors was founded by Eddie Ghabour and Doug Ferris in 2000. Mr. Ferris retired at the end of 2021, at which point Mr. Ghabour became sole owner. Key joined Diversify's independent platform in 2022 under Diversify Advisory Services. Mr. Ghabour and his team will now transition to Diversify Wealth Management, Diversify's Partner Platform. With this expanded partnership, Mr. Ghabour becomes an equity holder in Diversify and will play an active leadership role in the continued expansion of the organization.

"The industry needs to create more aligned partnership solutions for advisors. Part of the design for our Partner Platform was to allow our independent advisors an affiliation model in which they could monetize their practice, plan for clear succession, and take an equity position alongside our founders," said Ryan Smith, Co-Founder & Chief Executive Officer of Diversify. "Eddie and his team at Key represent the exact type of practice we envisioned benefiting from this flexibility. Eddie knows our platform well and is a strong advocate for what we created. He has built an incredible company, and we are truly honored that Eddie chose to deepen his firm's partnership with Diversify."

Diversify Wealth Management, Diversify's Partner Platform, was launched in January 2024 as a W-2 employee-affiliation-model RIA. The expansive Diversify Advisor Network encompasses Diversify Wealth Management, along with Diversify Advisory Services, an independent RIA platform and DFPG Investments, a full-service independent broker-dealer. The network has approximately $7 billion in total assets.

Mr. Ghabour said, "I am thrilled with this expanded partnership in Diversify and the opportunity to take a seat alongside the other advisor-founders in helping guide the firm into the future. Joining the Partner Platform was the right move for Key, where we will be able to not only retain the autonomy to run our business and serve our clients as we believe best but also take advantage of the synergies and scale that come from being more fully integrated with Diversify."

About Diversify Advisor Network
Diversify Advisor Network is a privately held, full-service independent wealth management firm founded by seasoned advisors and industry leaders. The firm has developed institutional-grade resources, complemented by the personal attention and support that defines a true partnership. Investment advisory services are offered through Diversify Advisory Services, LLC (DAS) and Diversify Wealth Management, LLC, (DWM). Securities are offered through DFPG Investments, LLC, member FINRA/SIPC. For more information, visit joindiversify.com.

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SOURCE Diversify Advisor Network