Concurrent hails first quarter advisor team growth, adding $2B in AUM

Concurrent crossed a major asset milestone in the first quarter of 2025, adding six advisory teams across all wealth channels as it expanded its national footprint.

In a statement published on Thursday, Concurrent Investment Advisors said it brought on 17 advisors across the six teams – Crownmark Wealth Advisors, Cornerstone Private Wealth, Arky & Miller Financial Group, Center Street Wealth Management, Valenta Capital Management, and Tutelas Financial.

Collectively, the teams represented $2.01 billion in assets under management, which Concurrent said helped push it past $10 billion in assets under advisement.

“Each of these teams has embraced our partnership model, helping us advance our mission of building a platform that is fully independent yet fully aligned," Joe Mooney, managing director and head of business development at Concurrent, said Thursday.

The additions reflect the firm’s continued effort to court advisors across different business models. The teams, coming from a range of independent firms, wirehouses, and broker-dealers, are based across six states.

Concurrent’s multi-custodial framework, which recently added Goldman Sachs Custody Solutions, is now available alongside existing options from Fidelity, Charles Schwab, and Purshe Kaplan Sterling.

Two of the incoming teams – Crownmark and Cornerstone – selected GSCS as their provider. Georgia-based advisors Sean Foote and Stephen Welch of Crownmark, who joined from Morgan Stanley, cited the platform’s support for institutional consulting and high-net-worth strategies as a differentiator.

Foote and Welch serve a mix of corporate executives, entrepreneurs, athletes, and entertainers.

In New Jersey, Brett Hina and Daniel Lesneski of Cornerstone transitioned from UBS. Both pointed to Concurrent’s client-first service philosophy and expanded capital markets access through Goldman Sachs as key reasons for the move.

In the Southeast, Arky & Miller and Center Street – joining from Cambridge and Wells Fargo Advisors Financial Network, respectively – chose Concurrent to support values-based planning and efficiency-driven advisory models.

Concurrent's first-quarter growth also featured tuck-ins into two of its existing partner firms. Colorado-based Valenta Capital Management is joining Legacy Private Wealth Partners and will retain its brand while leveraging shared technology and compliance infrastructure. Meanwhile, Tutelas Financial is affiliating with Wealth Partners Alliance in Texas, citing the entrepreneurial network and collaborative environment as draws.

“The continued momentum of teams joining Concurrent reflects how our platform resonates with advisors across business models,” said Mooney.

The latest update to Concurrent's growth strategy, following its end-2024 showing of $9.7 billion in total AUM, reflects a payoff of strategic moves it's made over the past several years.

In 2023, the Florida-based firm restructured itself into a hybrid RIA, widening its appeal as a destination for advisors seeking different affiliation models. Last year, it welcomed a raft of new leaders including Mooney from Fidelity, along with Kerry McDermott who came on board VP, program development, strategy & growth, and Matthew Unger who stepped in as VP, head of centralized wealth advisory services.