Woodbury Recruits Two Brokers in Succession Plan Merger Transaction
Woodbury Financial Services, a broker-dealer within the Advisor Group network, has recruited two independent financial advisors with combined client assets of $170 million.
Woodbury Financial Services, a broker-dealer within the Advisor Group network, has recruited two independent financial advisors with combined client assets of $170 million.
The financial professionals, Joseph Di Biasi and Gregory McElheny, previously affiliated with MML Investors Services, joined Woodbury as part of a transaction in which they acquired Life Certain Wealth Strategies, a five-person Woodbury-affiliated practice with $240 million in client assets. The transaction allows Life Certain’s president and founder, Herb White, to execute his succession plan and eventually retire from active management of the business.
Woodbury Financial Services is part of Advisor Group, which also includes FSC Securities Corporation, Investacorp Inc., KMS Financial Services Inc., Royal Alliance Associates Inc., SagePoint Financial Inc., Securities America Inc., Securities Service Network and Triad Advisors LLC.
The combined practice, which will retain the name Life Certain Wealth Strategies, now has seven advisors and $410 million in total client assets, with offices in Greenwood Village, Colorado near Denver, and Colorado Springs.
The team includes Herb White, president; Joseph Di Biasi, chief executive officer; Gregory McElheny, chief operating officer; and advisors Suzanne Charrin, Brian Marston, Randy Stone, and Michael Labedz.
Woodbury Financial has nearly 1,600 affiliated independent financial advisors and is headquartered in Oakdale, Minnesota. Advisor Group serves approximately 11,300 financial professionals and oversees more than $450 billion in client assets.
