Rumor became reality as Advisor Group announced plans to consolidate its multi-firm network into a single, rebranded entity. Over the next 18 to 24 months, each of the firm’s eight wealth management firms will roll into the yet-to-be-named new brand, one at a time.
The announcement follows close on the heels of an organizational realignment earlier this year into three channels focused on specific business models: Independent, Institutions and RIA Solutions.
Advisor Group’s 11,000-plus advisors have been reassured that the event will be as seamless as possible. Jamie Price, Advisor Group President & CEO said, “This is not a repapering event. Because the firms are already part of Advisor Group, we can significantly simplify the financial professional and client transitions.”
Advisors can also expect the move to bolster what has been an area of keen focus for the firm in recent years: technology. With consolidation comes the elimination of legacy platforms and systems attached to each separate firm. It’s anticipated that the singular focus of investing in and maintaining one common tech stack will deliver operational efficiencies and drive productivity for both the firm and its advisors.
As Digital Wealth News readers know, Advisor Group has made a point of investing heavily in people and platforms to drive technological innovation. Just last year, Pete Clemson, Advisor Group’s Chief Digital Officer, hinted at a significant overhaul of the firm’s tech offerings, touting the firm’s goal of creating an “end-to-end seamless digital experience that aligns to every step of the financial professionals’ journey with us.”
Greg Cornick, Advisor Group’s President, Advice and Wealth Management, said, “Our new structure will enable us to invest more into resources and technologies that provide financial professionals with a truly personalized and differentiated experience. This move reflects our commitment to provide solutions for our financial professionals that are tailored to who they are, and the way they do business.”
Further details about its new brand will be announced in May at Advisor Group’s future-focused NXT Conference, which is geared toward forward-thinking financial professionals. The May 23-25 event will be held in Louisville, Kentucky.
