Privy Counsel Group acquires Investors Financial Group
MORRISTOWN, NJ, March. 16, 2022 /PRNewswire/ — Private Advisor Group, one of the nation’s largest and fastest growing independent wealth management firms*, has announced the acquisition of registered investment advisory firm (RIA), Investors Financial Group (IFG). Interview on $1.86 billion in assets under advisory management at December 31, 2021IFG will transfer its RIA management to Private Advisor Group, a move aimed at fueling the growth and scale of both businesses.
For more than a decade, MinnesotaIFG has provided investment advice and wealth management services to individuals, families and institutional investors. In assessing the next evolution of practice, managers Timothy Keep, Ron Bickford and Richard Anderson, a determined alignment with a business positioned for growth and with the infrastructure in place to improve the delivery of long-term wealth management strategies was required. Comprised of nearly 30 independent advisors and staff, IFG will retain its brand autonomy while having access to additional practice management resources, business and succession planning, and the community of more than 700 advisors. of Private Advisor Group.
“At IFG, we help investors prepare and plan for their legacy and aligning with Private Advisor Group is the right next step for our company’s legacy.” said IFG President and CEO, Timothy Keep. He continued, “Transitioning the management of our RIA creates immediate efficiencies and when you combine this with strong cultural alignment and a foundation for growth, we have strengthened our position to serve our advisors, investors and our community, now and in the future.”
Frank SmithHead of Advisor Growth at Private Advisor Group, said, “Enabling advisor growth, helping advisors plan their own legacy and fostering a connected community are key principles that underpin our strategy at Private Advisor Group. This represents an important step as both firms will benefit from the breadth and quality of the combined resources. We are delighted to welcome the IFG team and look forward to contributing together to the success of our community of advisors. »
Financial terms of the transaction will not be disclosed. With the transition underway, all IFG advisors are welcome to join Private Advisor Group alongside company leaders. Both companies are affiliated with LPL Financial as a broker, creating additional alignment from which to grow efficiently and sustainably towards a common future. LPL Financial served as M&A consultant for this opportunity.
Private Advisor Group will continue to recruit, merge and acquire finance practices and RIAs nationwide who seek to model a practice that fosters independence and those who seek to grow smarter and more confidently.
About the Privy Advisor Group
Founded in 1997 in Morristown, New Jersey, Private Advisor Group is one of the nation’s leading financial services companies. manage more $30 billion of assets under management, the firm leverages its resources to deliver solutions that strive to improve financial outcomes for individual investors and inspire growth, fiduciary buy-in, legacy solutions and a focus-centric approach. the client for the practices of independent financial advisers. Barron’s has recognized Private Advisor Group as one of the top ten investment advisory firms on record since 2019.
* Barron’s “Top 100 RIA Firms” ranking is based on quantitative and qualitative criteria, including: regulatory records, customer retention reports, assets under management, revenue generated, technology spend, number of customers, size and diversity of staff, placement of a succession plan, and more. Investor experience and returns are not taken into account. Neither Private Advisor Group nor its financial advisors pay a fee to Barron’s in exchange for the ranking.
For more information, visit www.privateadvisorgroup.com.
Securities offered by LPL Financial, member FINRA/SIPC. Investment advice offered by Private Advisor Group, a registered investment adviser and separate entity from LPL Financial.
SOURCE Private Advisor Group