Concurrent Network Adds 3 Advisors With Combined $450M AUM

Fehrman Investment Group, a family-owned practice in Augusta, Ga., and three other advisors have joined the Concurrent Investment Advisors network, adding more than $450 million in client assets.

The addition of the new practices boosted Concurrent’s total assets under management to $17 billion.

In New York, Charles Sacco joined Ciliberti & Associates; Dave Coleman affiliated with Lindamood Financial Group in Virginia; and in Massachusetts, The Wealth Stewards team added Amanda Adams, according to the press release. The three new advisors brought more than $150 million in AUM to Concurrent.

Led by President Jeff Fehrman, Fehrman Investment manages more than $300 million and serves clients through strategic investment management, comprehensive financial planning and corporate retirement planning, according to a news release that Tampa, Fla.-based Concurrent issued on Friday.

Joining Concurrent will give Fehrman and his team, which includes his daughter, financial advisor Katie Fehrman Edmonds, and three supporting staff members, access to Goldman Sachs Custody Solutions, an expanded range of investment resources, technology, and institutional-grade planning support, according to the news release.

“My entire career has been anchored by a commitment to providing clients with personalized, reliable advice,” Fehrman said in a statement. “With Concurrent as our partner, we can continue executing on that commitment with access to a top custodian, expanded investment options and practice management support.”

“Welcoming a firm of Fehrman’s caliber while continuing to grow alongside our partner firms underscores how our platform supports advisors at every stage of their career,” said Joe Mooney, managing director and head of business development at Concurrent. 

Last year, Concurrent, a multi-custodial, hybrid registered investment advisor backed by private equity firm Merchant Investment Management, added 22 advisory firms, boosting combined AUM and asset under advisement to more than $34 billion.