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HomeWealth ManagementConcurrent Recruits 9 New Advisors, Nearly $1B in AUM in Q1

Concurrent Recruits 9 New Advisors, Nearly $1B in AUM in Q1


Concurrent Advisors had a busy first quarter.

A distinctive kind of workplace of supervisory jurisdiction offering a variety of help to advisors leaving the wirehouses to strike out on their very own, Concurrent introduced on 9 advisors with a cumulative $953 million in property beneath administration within the first three months of 2022.

These additions construct on a busy 2021 for the OSJ, throughout which its mixed AUM grew to $13.5 billion. It added 26 new advisor groups, and a partnership with Service provider Funding Administration allowed it to increase development capital and fairness participation to all affiliated advisors.

“Our success in 2021 and the primary quarter of 2022 is testomony to the power of our associate companies as entrepreneurs,” stated Concurrent co-founder Nate Lenz. “We deliver an unrelenting focus to assembly their wants, whether or not meaning recruiting, aiding with succession alternatives, or executing on our core providing of offering operational help. Our staff and infrastructure enhances and helps their imaginative and prescient each step of the way in which.”

Concurrent affords development sources and devoted in-house experience to assist advisors set up their bodily and digital footprints, branding and enterprise construction. Further companies, comparable to its digital administrative employees and a paraplanning staff, are supposed to create extra bandwidth for brand spanking new breakaways within the first months of their journey.

Eight of the brand new recruits have joined current practices within the rising community of Raymond James–affiliated registered funding advisory companies, whereas one other elected to ascertain his personal workplace.

Advisors Brandon Glasscock and Mandy Haskell from Wells Fargo, John Garcia from Edward Jones and Garry Scheufler from Merrill Lynch, with a mixed AUM of $428 million, have joined the Dallas-based Wealth Companions Alliance. Glasscock and Haskell will quickly be launching a brand new department of the agency in Houston.

“My highest precedence proper now’s to information my purchasers by means of this transition interval and present them the benefits my independence can create for his or her monetary futures,” stated Glasscock. “Concurrent lets me dedicate my full focus to my consumer relationships whereas they lay the groundwork for future success.”

New advisors additionally embrace: John Harris, who introduced $134 million in AUM from Morgan Stanley over to Heartland Wealth Administration in Norman, Okla., facilitating his long-term succession plan; Tim Murray, with $65 million in property, who has joined Impression Monetary Methods in Fort Collins, Colo., from Edward Jones; and Doug Solorzano, who left Wells Fargo to ascertain his personal apply in San Diego with an preliminary AUM of $111 million and help from Concurrent.

“I wished to take the following step in my profession as a enterprise proprietor and an entrepreneur, not an worker. After I checked out my choices, Concurrent stood out as a associate that will assist me construct the apply I wished,” stated Solorzano, who’s creating a hybrid workplace to extend flexibility and take benefit of Concurrent’s digital administrative help program.

Two extra first quarter additions within the Gainesville, Fla., and Cincinnati areas introduced one other $213 million in mixed AUM.

Headquartered in Tampa, Fla., Concurrent was based in 2016 and now serves 140 advisors throughout 64 workplaces nationwide, with $12.7 billion in property beneath administration and greater than $12 billion beneath advisement as of Could 12, 2022. The monetary advisors in its community are registered representatives of Raymond James Monetary Companies Inc.

“Concurrent has constructed a singular group of impartial partnerships centered round a standard imaginative and prescient,” stated Service provider associate Rick D’Amico, explaining that the OSJ’s “management and imaginative and prescient” satisfied his privately funded, long-term RIA funding agency it will be an excellent partnership. “Tradition is totally a key a part of its continued development.”

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