Home News Royal Alliance Super-OSJ Acquires $4.5 Billion Firm

Royal Alliance Super-OSJ Acquires $4.5 Billion Firm

GenXFinancial, a wealth management firm affiliated with Advisor Group subsidiary Royal Alliance, has acquired Boston Partners Financial Group.

GenXFinancial, a wealth management firm affiliated with Advisor Group subsidiary Royal Alliance, has acquired Boston Partners Financial Group, a New England-based financial advisory firm and super-OSJ with 53 independent advisors, overseeing approximately $4.5 billion in total client assets. Financial terms were not disclosed.

Upon completion of the transaction, GenXFinancial will oversee $9 billion in total client assets, supervise 180 financial professionals, and will be the largest super-OSJ affiliated with Royal Alliance Associates.

GenXFinancial’s largest and core business, Innovative Financial Group, was founded by industry veterans Brian Heapps and Robert Mitchell in 2017. GenX’s business model emphasizes succession planning and growth for advisors using a parent company structure that combines a core super-OSJ firm (Innovative Financial Group) with two other affiliated companies – MyRemoteFA and SellMyFinancialPractice, the company said.

Boston Partners Financial Group, led by Mark Marroni for more than 20 years, will operate under the Boston Partners Financial Group brand.

Advisor Group Inc., a network of independent wealth management firms, serves approximately 11,100 financial professionals and oversees more than $450 billion in client assets. Its subsidiary Royal Alliance has more than 3,600 affiliated independent financial advisors and is headquartered in Jersey City.

Click here to visit The DI Wire directory page.