May 12, 2026
By: Ian Wenik
Merchant Investment Management-backed Concurrent Investment Advisors has brought over an advisory team from Raymond James which it says previously managed roughly $1.2bn in assets.
The new team will do business under the brand name TAVO Wealth, Concurrent said. The spine of the team comes from a Houston-based Raymond James practice known as Ahlquist Private Wealth Management of Raymond James: TAVO advisors David Ahlquist, John O’Shea and Steve VanNostrand all hail from the team. A fourth TAVO advisor, Nick Troiano, previously worked in Raymond James’ suburban Denver office.
Tampa, Fla.-based Concurrent itself has deep ties to Raymond James, which is based in neighboring St. Petersburg. The business was originally an office of supervisory jurisdiction tied to the financial services conglomerate but disaffiliated from Raymond James in early 2023.
‘We’ve had the experience of moving meaningful assets off of that platform to all of our major custodians now,’ Concurrent chief executive Nate Lenz told Citywire. ‘So I do think that creates that level of familiarity and a bridge of trust. Beyond that, just our deep competency in how to facilitate those moves is one of the key reasons why firms like TAVO gravitate towards Concurrent.’
Lenz said the TAVO team will custody its clients’ assets with Fidelity Investments. Concurrent also has custodial relationships with Goldman Sachs, Charles Schwab and SEI, according to its most recent Form ADV filing with the Securities and Exchange Commission.
Serial RIA minority investor Merchant Investment Management has backed Concurrent since 2021. The company has thrived off a healthy diet of advisor recruiting and both minority and majority acquisitions; Concurrent has added 24 advisors thus far in 2026 which oversee a combined $3bn in client assets.
Concurrent said the deal with TAVO pushes it to roughly $20bn in assets under management.
‘I do think what we’re seeing within our pipeline is that our average advisor size is really stepping up in a pretty meaningful way, Lenz said.
Read the original article here citywire.com
