Advisor Group, one of the nation’s largest networks of independent wealth management firms, has agreed to purchase Infinex Financial Holdings Inc., the holding company of a privately-held broker-dealer.
Infinex, which supports banks, credit unions and financial institution-based financial advisors and their clients, has more than 750 financial professionals overseeing approximately $30 billion in client assets. The firm currently supports more than 230 community-based bank and credit union programs with clients in 50 states. The firm was founded in 1993 and is headquartered in Meriden, Connecticut.
Following the completion of the transaction, Infinex will become a member firm in the Advisor Group network of firms, and remain under its own brand, executive leadership team and operating model.
Infinex president and chief executive officer, Stephen Amarante, will join Advisor Group’s executive leadership team.
“This acquisition aligns Advisor Group with one of the most widely respected firms specializing in helping financial institutions build and grow successful wealth management programs across the country,” said, Advisor Group President and CEO Jamie Price. “By joining forces with Infinex, Advisor Group becomes a multi-channel industry leader with a significant presence across the financial institution space, a distinct industry channel with more than $1 trillion in assets…”
Advisor Group, Inc., a portfolio company of Reverence Capital Partners, serves approximately 9,700 financial advisors, overseeing approximately $515 billion in client assets.
Advisor Group is comprised of FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial, Securities America, Triad Advisors, and Woodbury Financial Services.