Concurrent Adds Seven New Teams Worth Over $1.1 Billion in Assets Under Management

Rhea-AI Summary

Concurrent Advisors has successfully expanded its network by adding seven new advisor teams from various states, including Alaska, Florida, Kentucky, Michigan, and Mississippi. This growth has resulted in a total increase of over $1.1 billion in assets under management (AUM), bringing the network's total AUM to $9.1 billion. The partnership aims to provide independent advisors with robust resources and support during these challenging times, emphasizing a commitment to client service amid market volatility.

Positive

• Addition of seven advisor teams increases assets under management by over $1.1 billion.
• Total assets under management now exceed $9.1 billion.
• Network expansion reflects strong demand for independent advisory services.

Negative

• None.

SAN DIEGO, Dec. 9, 2020 /PRNewswire/ -- Concurrent, a partnership of elite independent advisors affiliated with Raymond James Financial Services, Inc. (RJFS) (member FINRA/SIPC), has continued its fast-tracked model for growth, even as the pandemic continues to impact businesses and individuals throughout America. In recent weeks, Concurrent has worked with seven new advisor teams based in Alaska, Florida, Kentucky, Michigan and Mississippi to transition to their independent network of advisors. With the addition of these newly recruited teams, the total assets under management of the network's advisors has grown by over $1.1 billion.

"We are continually sought out by entrepreneurial-minded advisors who strive for not only independent business ownership, but to also be a steady, reliable source for clients during this relentless year of volatility combined with a global pandemic," said Mike Hlavek, Founding Partner, Concurrent. "As futures change and markets remain unpredictable, our advisors are helping many Americans navigate through waves of uncertainty and unprecedented high emotions."

In recent weeks, Concurrent picked up two teams in the state of Alaska. In Fairbanks, Head Retirement & Wealth Strategies comprised of advisors, Roark "Alan" Head, nearly a 40-year financial services veteran, and Austin Head, along with Service Associate, Deborah Combs joined the Concurrent network. The team was previously with Wedbush Securities and manages nearly $300 million in assets under management.

"Partnering with Concurrent allows us to become business owners rather than employees and puts us on the same side of the desk as our clients," explained Alan Head, Founder & Managing Director, Head Retirement & Wealth Services. "We have the benefit of independence backed up with all the resources Raymond James has to offer. We're excited to join the Concurrent family and look forward to growing our business together."

Also in Fairbanks, Alaska and formerly with Wedbush Securities, Krista Stamper of Stamper Wealth and Retirement Group, joined Concurrent, bringing in nearly $253 million in assets under management.

Tracy Thacker, head of Thacker Wealth and Retirement and his team comprised of Tammy Duncan, Penney Brooks, and Debra Thacker have chosen the path to independence by partnering with the Concurrent network. Located in Owensboro, Kentucky, Thacker and his team hold $259 million in assets under management and were formerly with Edward Jones. 

"The opportunity to partner with Concurrent is a tremendous opportunity for my practice that will greatly benefit my clients," said Tracy Thacker, Head of Thacker Wealth and Retirement. "With access to the Raymond James platform, I'll have access to a much broader spectrum of resources that will allow my team to offer more holistic services and spend more time focused on my clients.

Concurrent office Hendrickson Wealth and Retirement, headed by Richard Hendrickson, welcomed Kayla Jo Teckenbrock and Jackie Rainey, formerly with Edward Jones. This new team brings over $87 million in assets under management to this Benton, Kentucky based practice. Hendrickson, who chose his path to independence by joining Concurrent in 2018, was also previously with Edward Jones.

Richard Crowne and Kelly Coghlan have joined the Concurrent team located in Lakewood Ranch, Florida. Formerly with Wells Fargo Advisors, they bring nearly $147 million of assets under management.

Formerly with Wells Fargo Advisors, Jason Huffman of Diberville, Mississippi joined Concurrent, adding $36 million in assets under management to the network.  

John Reeber, formerly with Wells Fargo Advisors, manages and advises on some $30 million in assets for clients in the Grosse Point, Michigan area and has joined the Concurrent network.

"In a year of uncertainty, more and more advisors are drawn to Concurrent because they can rely on our robust platform and be fully accessible remotely, as they spend their time intensely focusing on their clients versus spending valuable time on administrative tasks," Kevin McFarland, Founding Partner, Concurrent added. 

Although less than five years old, the Concurrent network's nearly 115 advisors in 49 offices around the country are entrusted with over $9.1 billion in assets under management.

About Concurrent
Concurrent (concurrentadvisors.com) is an advisor-owned partnership of elite independent organizations working together to realize a common vision of creating a superior client experience while growing their own practices.

Headquartered in San Diego, Concurrent was founded in 2016 and currently serves 115 advisors in 49 offices with over $9.1 billion in assets under management (AUM) and approximately $9.5 billion under advisement (as of 11/19/2020). Drawing upon their individual and unified strengths, our financial advisors leverage their collective scale to provide an attractive value proposition to both clients and other independent-minded advisors in a highly competitive and constantly evolving wealth management landscape.

Concurrent and its network of advisor teams are not registered broker/dealers or registered investment advisers. Concurrent's network of financial advisors are registered representatives of Raymond James Financial Services, Inc.

About Raymond James Financial Services
Raymond James Financial Services, Inc. is a financial services firm supporting independent financial advisors nationwide. Since 1974, Raymond James Financial Services Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF) a leading diversified financial services company with approximately 8,200 financial advisors throughout the United States, Canada and overseas. Total client assets are $930 billion. Investment Advisory services offered through Raymond James Financial Services Advisors, Inc.

CONTACT:	Lisa Aldape
	JConnelly
	973 525 6550
	laldape@jconnelly.com

 

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SOURCE Concurrent Advisors

FAQ

What recent developments have occurred for RJF in December 2020?

Concurrent Advisors added seven advisor teams, increasing assets under management by over $1.1 billion.

How much total assets under management does Concurrent Advisors now have?

Concurrent Advisors now has over $9.1 billion in assets under management.

Which states did Concurrent Advisors recruit new teams from?

New teams were recruited from Alaska, Florida, Kentucky, Michigan, and Mississippi.

What is the impact of Concurrent's expansion on RJF's network?

The expansion indicates strong interest in independent advisory services, enhancing the value proposition for clients.