$2B Tenacity Advisory Group Latest NPH Affiliate to Jump Ship Following LPL Merger Announcement
Woodbury Financial Services, an independent broker-dealer member of Advisor Group with more than 1,200 advisors across the country, recently revealed that the Wisconsin-based Office of Supervisory Jurisdiction, Tenacity Advisory Group, selected to affiliate with Woodbury. The deal marks a total of 140 advisors who have joined Woodbury and more than 440 who have joined Advisor Group, according to a prepared release.
Tenacity had been affiliated with NPH’s SII Investments. They are the latest NPH affiliate unit to depart following the LPL Financial merger agreement.
The decision to join Woodbury was an easy one, explained Mike Savolt, president of Tenacity, “based on the strong values the firm demonstrated.” During the search process, he says, “Woodbury treated us like family, and the relationships that we’ve already built with them are invaluable. TAG is known for servicing clients with a real human touch. Woodbury offers the resources and tools we need to continue doing this, while at the same time positioning us for even greater success in the future.”
Founded in 2010 in Green Bay, WI, Tenacity started with nine financial advisors and $250 million in client assets. Since then, the firm has grown and is now at $2 billion in client assets, boasting 52 advisors in 30 offices across Wisconsin, Michigan, Ohio & Nebraska, according to a release. The group specializes in all aspects of financial planning, including retirement planning, company sponsored plans, life and health insurance needs, disability, business consulting, and tax planning.
Woodbury prides itself on providing independent advisors a “flexible, open-architecture system that offers them full access to state-of-the-art technology, marketing and management systems – all of which can be fully adopted or integrated into an advisor’s existing platform for an easy transition.”
“We are honored to welcome TAG to the Woodbury Family,” says Rick Fergesen, president and CEO of Woodbury Financial Services. “As a firm with a rich history of servicing advisors and their clients to their fullest potential, TAG is an exceptional example of a business founded on holistic financial planning, and we are proud that they’ve selected Woodbury.”
Joe Nienhaus, regional vice president of Woodbury, Wisconsin added, “At Woodbury, we focus on the clients’ best interests above all else, and this is a shared quality we quickly recognized during our first interactions with TAG. Our closely aligned values and culture have allowed for a seamless transition, and we look forward to the future of our partnership.”
