In a move set to bolster its foothold in the West, NFP announced the acquisition of Divergent Wealth Advisors, based in South Jordan, Utah. The strategic acquisition expands NFP's offerings in wealth management and retirement planning.
Divergent Wealth Advisors, an independent registered investment advisor, boasts over $675 million in assets under management and has carved a niche for itself with a keen focus on holistic wealth management solutions and retirement planning.
The merger was finalized on Aug. 7.
Key personnel, Jordan Collins and Brady Ririe, the co-founders of Divergent, will now be a part of NFP's leadership. They are set to report to Jeff Scott, Senior Vice President, Retirement at NFP.
In a statement, Scott expressed his enthusiasm about the merger, "The inclusion of Jordan and Brady in the NFP family marks an exciting phase for us. As we strengthen our capabilities in wealth management and retirement planning, we are simultaneously expanding our footprint in the rapidly growing Western US market. Moreover, we're fortunate to onboard a gifted team of wealth advisors, known for their unwavering commitment to delivering exceptional client service rooted in trust."
Mike Schneider, overseeing NFP's Central and West regions, commented on the acquisition's strategic significance, "With the addition of Divergent, we are reinforcing our already solid presence in Utah. It underscores our ambition to scale our expertise in wealth management and retirement, not just in the Western US but beyond. This acquisition further showcases NFP as the ideal choice for burgeoning firms that prioritize culture and are in search of robust resources and support." NFP already has an office in Lehi UT.
Collins was a senior investment management consultant at Morgan Stanley when he left in 2017 to co-found Divergent — he had been with the big bank for almost 12 years. Co-founder Brady Ririe also came from Morgan Stanley, where he worked for 5 years, after an internship at UBS.
NFP operates two wealth management firms:
Fiducient Advisors which provides investment consulting services to retirement plan sponsors, private institutions, nonprofit organizations and affluent families.
Wealthspire Advisors which is an independent advisor with 18 locations throughout the Northeast, Mid-Atlantic, Midwest, and West Coast, specializing in exceptional service to affluent clients that pairs tailored portfolios with a personalized financial plan and service team.
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