Two RIA firms that merged last September have adopted a new name as they seek to expand their presence in the region.
Oklahoma City-based Burns Advisory Group and Dallas-based Executive Financial Group will now be named Exencial Wealth Advisors.
With a handful of RIA firms like United Capital Financial Advisors LLC and Focus Financial Partners LLC looking to establish a national presence, Exencial wants to become a major player in the Southwest.
The rebranding of our name is a big step for the firm,” said John Burns, co-chief executive at Exencial. “We're building a sustainable and growing business and we wanted a name that represented more than the founders and the founding firms.”
The transaction last September combined two firms of roughly equal size. Burns focuses on financial planning for high-net-worth individuals while Executive Financial Group specializes in planning for corporate executives and their families. The merged firm manages about $750 million for roughly 350 household clients.
“This is an exciting time to be in the business,” said Mr. Burns. “The RIA world is fragmented and we want to be a leading financial planning firm for executives and their families.”
Exencial is consolidating its operations in Oklahoma City and is in the final stages of integrating the two firms, said Mr. Burns. He and fellow executives have identified several other RIAs they are interested in pursuing.
“We may eventually look to establish a national presence, but for now we're going to focus on the Southwest,” said Mr. Burns.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.