Concurrent Advisors, a network of independent Raymond James advisors overseeing $6.8 billion in assets under management and based in San Diego, is readying the next phase of its growth strategy. A home for breakaways, Concurrent announced it had acquired WealthEngage, an independent practice of RJ that is based in Miami.
Concurrent’s founding partner, Mike Hlavek, said the acquisition accelerates its growth and brings needed experience in investment, practice management and transitioning advisors.
“With the addition of [WealthEngage's] Eddy Augsten and Andrew Gartrell to our home office, we've gained two strong professionals who understand how best to serve clients,” he said.
"Concurrent's platform gives us the infrastructure, resources and thought leadership, allowing us to help advisors, who are industry leaders, elevate their practice and ultimately accelerate growth,” said Augsten.
As a managing director, Augsten will develop best practices for advisors in investment management and advisory services. Gartrell will operate as a director, and implement Concurrent’s approach to advisors in local markets, maintain relationships with asset management partners and increase organic growth.
Founded in 2016, Concurrent spent the past four years recruiting its now 100 advisors across 45 offices and has amassed $8 billion in assets under advisement. In March of this year, it boasted that it added over $367 million in AUM in four offices (Colorado, California, Florida and Tennessee) before the first quarter concluded.