The hybrid RIA says it provides consultation and coaching alongside its investment.
By Mela Seyoum
Concurrent Investment Advisors has rolled out a strategic minority investment program for registered investment advisors eyeing succession planning and growth capital or partial monetization.
In addition to its investment, the Tampa, Florida–based hybrid RIA will provide consultations and coaching, Concurrent said in an announcement. So far, investments have been made in Post Oak Wealth Partners, with $250 million in assets under management, and Oliver Capital Management, with $450 million in assets under management, according to the announcement.
The initiative is available to non-affiliated advisors, many of whom might want a partnership but aren’t looking to “roll down their ADV,” said Liz Lenz, Concurrent’s managing director of practice synergies and enterprise consulting.
“Many of the people that are coming to us, they don’t just want a capital partner, they want a partner in navigating consultative conversations and looking at strategic business ideas,” Lenz said.
Lenz and her team lead the ongoing consultative relationships starting with a “full diagnostic process” evaluating the business, including areas such as productivity, business structure and service offerings to understand a firm’s priorities and areas in which it may be struggling.
Concurrent can further help to navigate and implement any recommended changes, Lenz said.
“Our goal is to focus on what’s going to allow their businesses to grow over time, have longevity in their service and have a competitive service offering, most importantly for the clients,” Lenz said.
Concurrent says it added $2 billion in new client assets in this year’s first quarter and $500 million in affiliated assets through the second quarter.
Read the full article on Financial Advisor IQ.
