Osaic’s branches have grown many times in size in just over four years with enhanced tools for recruiting, succession planning and financial advisors.
of ameriflex group — Las Vegas-based registered investment advisor to switch brokerage operations Advisor Group’s SagePoint Financial to Osaic in September — With over 100 financial advisors, $6.5 billion in client assets That’s after launching the RIA with just 13 companies in 2019 with about $100 million, according to chief operating officer Jesse Krash.
than that Use traditional M&A deals AmeriFlex is driving much of the industry’s expansion. Recruit an independent team He said he was drawn to the succession plan, which has no change in upfront capital, and the proprietary planning software provided by the branch.
“There seems to be a lot of interest in the industry for companies that are more than a back-office role,” Krasch said in an interview. “This is the culmination of all these different parts, plus the opportunity to own an Ameriflex RIA.”
Wealth managers are expanding their footprint through multiple methods reflected in AmeriFlex. Announcement on June 27 4 others this week. Savant Wealth Management; Crestwood Advisor Group, an RIA owned by Focus Financial Partners.and Procyon Partners, RIAs using the Dynasty Financial Partners platform, each announced significant deals. In an advisory recruitment drive, independent brokerage Arcadios Capital acquired two teams of his from rivals with total client assets of $400 million. Organic growth through new customer acquisitions and additional assets from existing customers represents RIA’s third major form of growth.
Since 2018, Long Beach, Calif.-based RIA Hulbert Hargrove has met its annual goal of net 10% growth in customer households. according to CEO JC Abside. With his 46 employees, including nearly 20 of his advisors managing $3 billion in client assets in approximately 800 households, the company has achieved considerable scale. However, Halbert Hargrove had never done an M&A deal in the past and had no plans to pursue one in the future, Absaid said in an interview. He added a warning that the company would not blindly turn down any opportunity.
“Every year we have set new records in terms of growth,” Absaid said. “That’s when we decided why should we do M&A if we can grow organically at this pace? Should I risk it?”
AmeriFlex advertises itself as “”.home of the hybrid” refers to advisors who are dual registered with a brokerage firm and an external RIA. Advisor Tom Goodson said, Co-founded a networking and referral group for women in an industry called W sauce Alongside AmeriFlex planner Hannah Buschbom, he serves as the company’s CEO. Unlike many fast-growing companies, AmeriFlex has not received an influx of capital from private equity firms or other outside investors.
According to the RIA’s Form ADV brochure to the Securities and Exchange Commission, the company also applied for FINRA to register Ameriflex Group Securities as an intermediary “for the sole purpose of receiving commission fees generated by SagePoint’s brokerage activities.” pending application to
The company calls its planning software “AmeriFlex Premier+” and its succession planning service “SuccessionFlex.” The latter business line will launch in 2021, giving advisors who agree to stay with the firm the option to sell 30% to 40% of the firm’s revenues to a branch or another affiliated planner until retirement. The ownership was unchanged.
To date, more than a dozen advisors have received a total of $9.4 million through the program, and more than 75 branch advisors have received shares in the firm’s RIA. Ameriflex aims to one day more than triple its current size, with about 315 advisors with $25 billion in client assets and a presence in “every major U.S. city,” Krash said. It is said that there is
“We see them as pillar partners in major cities supporting our succession partner program across the country,” he said.