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Diversify Advisor Network Expands Affiliation Options with Acquisition of Three Wealth Management Firms

Diversify Advisor Network Expands Affiliation Options with Acquisition of Three Wealth Management Firms. DFPG, DFPG Investments, registered investment advisor, RIA, Diversify Advisor Network, Diversify Wealth Management, acquisition

On the heels of the recent announcement of DFPG Investments’ launch of the Diversify Advisor Network, the advisor-founded and advisor-led wealth management firm announced the initiation of Diversify Wealth Management as part of its long-term growth strategy to offer advisors expanded affiliation options.

According to the Network, Diversify Wealth Management will serve as an employee-affiliation RIA – also known as the Partner Platform – for advisors looking to monetize their practices and take equity alongside the founders. Diversify Wealth Management’s first acquisitions include three Utah-based wealth management firms: Caliber Wealth Management, FirstPurpose Wealth, and Diversify, Inc., which collectively oversee approximately $2.1 billion in assets.

“With the launch of Diversify Wealth Management and the acquisition of these three great practices, we’ve wasted no time executing our strategy of developing a multiplatform affiliation model – and there are more coming,” said Ryan Smith, co-founder and chief executive officer of Diversify Advisor Network. “We are focused on giving advisors choice and flexibility…”

ACQUISITIONS

Caliber Wealth Management, founded in 2013 by David Gardner and Todd Nuttall, is an RIA built by and for entrepreneurs and business leaders. They currently oversee $443 million in assets and over the past decade have helped drive innovations in 401(k) management for growth companies. Nuttall will serve on the Board of the Diversify Advisor Network.

FirstPurpose Wealth, founded in 2007 and led by Tim Whipple and Ken Bown, is an RIA that currently oversees $928 million in assets. The FirstPurpose partnership will expand the firm’s expertise in advanced tax strategies. FirstPurpose has an in-house team of tax professionals through FirstPurpose Tax, LLC. Whipple will serve on the Board of the Diversify Advisor Network.

Diversify, Inc. was founded in 2004 by DFPG founders Ryan Smith and Dan Luke. Their team of advisors currently oversees $750 million in assets and provides comprehensive wealth management strategies, including a robust insurance and risk management division. Luke will serve on the Board of the Diversify Advisor Network.

With the launch of Diversify Wealth Management, Diversify Advisor Network now oversees more than $7 billion in assets across their platforms.

Stuart Matheson, Chief Strategy Officer of the Diversify Advisor Network, added, “We are excited to welcome the talented teams from Caliber, FirstPurpose and Diversify. These acquisitions were very strategic. They each bring a unique expertise that will allow us to provide expanded services in a single framework…”

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