Diversify Advisor Network Makes Fourth ’24 Acquisition With Addition of $645 Million Delaware Team
Key Advisors Wealth Management, a Delaware-based fee-only firm with $645 million in assets under management, is joining Diversify Wealth Management and plans to take advantage of its partner platform affiliation model.
This marks the fourth acquisition of the year for Diversify Advisor Network, an adviser-founded, adviser-led, and adviser-focused full-service independent wealth management firm. In January 2024, Diversify Wealth Management acquired three Utah-based wealth management firms: Caliber Wealth Management, FirstPurpose Wealth, and Diversify, Inc., which collectively oversee approximately $2.1 billion in assets.
Key Advisors was founded by Eddie Ghabour and Doug Ferris in 2000. Ferris retired at the end of 2021, at which point Ghabour became sole owner. Key joined Diversify’s independent platform in 2022 under Diversify Advisory Services but Ghabour and team will now transition to Diversify Wealth Management, Diversify’s partner platform. With this expanded partnership, Ghabour becomes an equity holder in Diversify and will play an active leadership role in the continued expansion of the organization.
“The industry needs to create more aligned partnership solutions for advisers. Part of the design for our partner platform was to allow our independent advisers an affiliation model in which they could monetize their practice, plan for clear succession, and take an equity position alongside our founders,” said Ryan Smith, co-founder and chief executive officer of Diversify. “Eddie and his team at Key represent the exact type of practice we envisioned benefiting from this flexibility. Eddie knows our platform well and is a strong advocate for what we created. He has built an incredible company, and we are truly honored that Eddie chose to deepen his firm’s partnership with Diversify.”
Diversify Wealth Management, Diversify’s partner platform, was launched in January 2024 as a W-2 employee-affiliation-model registered investment adviser. The expansive Diversify Advisor Network encompasses Diversify Wealth Management, along with Diversify Advisory Services, an independent RIA platform, and DFPG Investments, a full-service independent broker-dealer. The network has approximately $7 billion in total assets.
“I am thrilled with this expanded partnership in Diversify and the opportunity to take a seat alongside the other adviser-founders in helping guide the firm into the future. Joining the partner platform was the right move for Key, where we will be able to not only retain the autonomy to run our business and serve our clients as we believe best but also take advantage of the synergies and scale that come from being more fully integrated with Diversify,” said Ghabour.
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