July 8, 2026
Potomac is led by managing partner Todd Wike, a wealth advisor and former NFL football player with the Oakland Raiders. The Calverton, Md.-based firm provides a full suite of personalized financial services with a focus on retirement planning. It joined Tampa, Fla.-based Concurrent on Monday.
According to his LinkedIn profile, Wike had spent almost 21 years at Raymond James. He’s joined by advisors Lanta Evans, Kevin Pinto, Deborah Kelly, Brian Krawiec, Bradley Schell and Gregory Wilkinson along with their support staff, Concurrent said in its news release.
Concurrent said the Potomac team chose its platform for its technology, operations support and practice management resources. It will also benefit from Concurrent’s custodial relationship with Fidelity Institutional Wealth Management Services, according to the release.
Wike, according to Potomac’s website, took over the leadership of the firm from Potomac’s founder, the late Larry Grabenstein, in 2012.
“The best way we can serve our clients is by maximizing the time we spend with them,” Wike said in a statement. “Concurrent’s platform gives us the operational support and resources to help us spend less time managing the business and more time guiding our clients through retirement with confidence.”
Liz Lenz, managing director of practice synergies and enterprise consulting at Concurrent, said her firm begins working with advisories before they decide to join its platform, helping them evaluate growth strategy, business infrastructure and long-term sustainability.
“With Potomac, the goal isn’t simply to complete a transition,” Lenz added. “It was to help build a stronger enterprise, one designed to support a multigenerational advisor team, enhance the client experience and create enduring value for the business well into the future.”
Concurrent’s recruitment and acquisition approach has been paying big dividends since the practice, led by co-founder and CEO Nate Lenz, broke off from broker-dealer Raymond James in 2023 with a reported $13 billion in assets.
Early this month, the hybrid RIA said its total AUM has surpassed $21 billion after the firm added $3.4 billion in assets and recruited 25 advisors to the platform since the beginning of the year.
One of the firms it brought on board in its first half was TAVO Wealth, a $1.2 billion AUM firm in Houston that also left Raymond James.
Concurrent tied its growth to new firms joining the platform, advisors affiliating with established teams across the network and larger teams launching or transitioning with Concurrent’s support.
In its July 1 release, Nate Lenz said the momentum is “in its early stages” and late last month he told Financial Advisor that Concurrent could end 2026 with $50 billion in total assets.
The CEO added in the July 1 release, “The advisors joining us are not looking for conformity. They are looking for a partner that can bring sophisticated infrastructure, centralized resources, thoughtful technology and real strategic support to entrepreneurial businesses without compromising ownership, autonomy or client relationships.”
Read the original article on FA Financial Advisor
