MORRISTOWN, NJ, March 16, 2022 / PRNewswire
Private Advisor Group, one of the largest and fastest-growing independent wealth management firms in the country*, announced that it has acquired registered investment advisor (RIA) firm, Investors Financial Group (IFG). Servicing over $1.86 billion in advisory assets under management as of December 31, 2021, IFG will transition its RIA management to Private Advisor Group, a change aimed to fuel growth and scale for both firms.
For over a decade, Minnesota-based IFG has provided investment advice and wealth management services to private individuals, families, and institutional investors. In evaluating the next evolution of the practice, Principals Timothy Gaarder, Ron Bickford and Richard Anderson, determined alignment with a firm positioned for growth and with infrastructure in place to enhance the delivery of wealth management strategies for the long-term was necessary. Comprised of nearly 30 independent advisors and staff, IFG will retain brand autonomy while gaining access to additional practice management resources, business and succession planning, and Private Advisor Group’s community of over 700 advisors.
“At IFG, we help investors prepare and plan their legacy and aligning with Private Advisor Group is the next right step for our firm’s legacy.” said, IFG’s President and Managing Principal, Timothy Gaarder. He continued, “Transitioning the management of our RIA creates immediate efficiencies and when you combine that with strong cultural alignment and a foundation for growth, we have strengthened our position to serve our advisors, our investors and our community, now and well into the future.”
Frank Smith, Private Advisor Group’s Head of Advisor Growth shared, “Enabling advisor growth, helping advisors with their own legacy planning, and fostering a connected community are key principles that underpin our strategy at Private Advisor Group. This represents a special milestone as both firms will benefit from the scale and quality of combined resources. We’re thrilled to welcome the IFG team and look forward to fueling the success of our advisor community together.”
Financial terms of the transaction will not be disclosed. With the transition underway, all IFG advisors are invited to join Private Advisor Group alongside the firm’s principals. Both firms are affiliated with LPL Financial as their broker-dealer which creates further alignment from which to efficiently and sustainably grow into a shared future. LPL Financial served as the M&A consultant on this opportunity.
Private Advisor Group will continue to recruit, merge with, and acquire financial practices and RIAs nationwide who are seeking to model a practice that favors independence and those looking to grow smarter and more confidently.
About Private Advisor Group
Founded in 1997 in Morristown, NJ, Private Advisor Group is one of the nation’s leading financial services firms. Managing over $30 billion in assets under management, the firm leverages its resources to deliver solutions that strive to improve financial outcomes for individual investors and inspire growth, fiduciary adherence, legacy solutions and a client-centric approach for independent financial advisors’ practices. Barron’s has recognized Private Advisor Group as a top ten registered investment advisory firm since 2019.
*Barron’s “Top 100 RIA Firms” ranking is based upon quantitative and qualitative criteria including: regulatory records, client retention reports, assets managed, revenue generated, technology spending, number of clients, size and diversity of staff, placement of a succession plan, and more. Investor experience and returns are not considered. Neither Private Advisor Group nor its financial advisors pay a fee to Barron’s in exchange for the ranking.
For more information, visit www.privateadvisorgroup.com.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through Private Advisor Group, a registered investment advisor and separate entity from LPL Financial.