Thurston Springer Financial, an independent employee-owned hybrid RIA based in Indianapolis, Indiana, has entered into a definitive agreement to acquire PEAK Reps, along with its subsidiaries.
The acquisition announced Monday includes PEAK Brokerage Services, Blackridge Asset Management, and Top Advisors Group, which have a focus on brokerage, asset management, and insurance support, respectively.
PEAK Reps, based in Jupiter, Florida, currently has approximately 120 financial advisors.
Rick Parker, CEO of Thurston Springer, highlighted the strengths of PEAK Reps as the firm announced the acquisition.
“PEAK Reps has built a remarkable organization focused on providing their advisors with a high touch service model, a collaborative marketing environment and a diversified platform,” Parker said in a statement.
He said the deal aims to fuel further growth for PEAK Reps, with Thurston Springer supporting this through enhanced technology, dedicated fixed-income trading, and expanded service capabilities.
PEAK Reps CEO Regina Rudnick expressed her optimism about the new partnership.
“The wealth management platforms, integrated service offerings and unique support models Thurston Springer has created are quite impressive,” said Rudnick, who'll will remain with PEAK Reps as co-president and head of advisor experience.
She noted that the companies share similar values, making the partnership a natural fit.
As part of the deal, PEAK Reps will continue to operate as a separate subsidiary under the Thurston Springer umbrella, while maintaining its existing structure. The agreement is expected to be finalized next month, PEAK Reps says, as it continues to solicit agreement from its advisors.
Last December, Thurston Springer enriched its leadership when it welcomed John Peluso, the former head of Wells Fargo's clearing operations who previously presided over the firm's independent advisor network, FiNet, as executive vice president and partner.
"We’re extremely fortunate to have an industry veteran and thought leader like John Peluso join our firm,” Parker said at the time. "We believe with John’s knowledge and reputation, along with our national footprint and nimble wealth management platform, we’re making Thurston Springer a destination for sophisticated advisors and their clients.”
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