Full-service independent wealth manager DFPG Investments has launched the Diversify Advisor Network to offer expanded affiliation options to advisors who want to grow their independent practice.
The brand will eventually comprise three parts: DFPG Investments, a broker-dealer offering for Diversify advisors; Diversify Advisory Services, an independent RIA providing services to independent investment advisors; and Diversify Wealth Management, an affiliation model offering direct equity partnership, which is expected to launch soon.
“This company was built by advisors, and we have an innate understanding of what advisors are seeking,” said Ryan Smith, co-founder and CEO of Diversify. "As private equity-backed aggregation continues to dominate the industry, it can create long-term uncertainty for advisors. At Diversify, we believe there is an alternative solution, and today's announcement is the first step. As you'll see in coming months, we're creating a multi-chassis affiliation model that is focused on maintaining a selective and boutique culture, while still providing institutional quality resources."
The firm has also announced that three new practices have joined its platform in recent weeks, with combined assets under management of more than $560 million taking the firm’s total AUM to $5.8 billion:
Jina Horton, vice president of business development for Diversify, says that it’s important to bring in advisors and practices that are a good cultural fit.
“We are excited to welcome these three terrific practices to our independent platform,” she said. “They each have unique business models but share a common goal of personalized client service that sets them apart. They joined Diversify for our service culture and commitment to providing them with the technology, tools, and resources they need to take their businesses to the next level.”
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
