World Investment Advisors, the recently renamed division of World Insurance Associates, is boosting its support for the advisors within its network.
On Thursday the firm, which formally shed its former brand identity as Pensionmark in July, announced it had entered into a new custodial partnership with Raymond James Financial, marking a strategic step in a continuing effort to enhance its offerings for independent financial advisors and wealth management practices.
The partnership follows World’s mid-July acquisition of Boston Harbor Wealth Advisors, a $3.5 billion firm that has worked with Raymond James for nearly a decade.
Troy Hammond, CEO of World Investment Advisors, highlighted the importance of this new relationship for their advisors.
“We are excited about our new relationship with Raymond James and the additional resources it allows us to bring our advisors,” Hammond said in a statement.
The collaboration aims to broaden custodial options for World’s advisors and clients, offering a flexible experience tailored to their needs.
“The addition of another custodian choice... is very much in line with these key pillars of our wealth management value proposition,” Hammond said.
Creating flexibility for advisors would certainly rank high among the list of items on World's agenda as it looks to expand its reach across the wealth space.
In August, World Investment Advisors tapped 24-year veteran Kevin Ryan as its new CFO. At the time, Hammond highlighted his "proven track record of delivering sustained shareholder value, managing complicated M&A transactions and developing and implementing operational efficiencies."
Shortly after came the news that World, still using the Pensionmark name, had agreed to acquire Financial Solutions, a $950 million RIA with a 30-year history of operating in the Midwest.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
