It's Official: Advisor Group to Unite Under One Name

“Our current business model has been successful to date,” he added, “but as the industry landscape continues to evolve, simultaneously maintaining a series of divergent brands no longer supports a best-in-class experience for our financial professionals or their clients.”

Advisor Group “continues to simplify its business structure through uniform and consistent policies, procedures and technology solutions, in addition to expanding its value-add solutions and offerings,” the firm said.

‘Smooth Transition’ Planned

Advisor Group has grown to serve more than 11,000 independent financial professionals across its eight separate BDs, it said.

“A well-crafted plan has been implemented to ensure a smooth transition of financial professionals’ businesses, with an emphasis on eliminating the need for repapering accounts and maintaining relationships and communities that have been cultivated over time,” the company explained.

“This is not a repapering event,” Price said. “Because the firms are already part of Advisor Group, we can significantly simplify the financial professional and client transitions by eliminating the complexities that occur in a normal transition,” he pointed out.

“Moving into one firm is about making it easier for our financial professionals to conduct business and giving them more value through their connection to each other and to our home office,” he said. “Our goal is to facilitate the most seamless transition possible that will ultimately benefit their businesses.”

When it comes to accounts held with the eight member BDs, including brokerage, direct choice, Wealth Management Platform, and direct business, clients “will not need to sign any new paperwork and their account numbers will not change,” according to the company. However, “accounts held away with some third-party money managers, including TAMPs, will need to follow the procedures of the third parties to transfer,” it said.

“Advisor Group is leveraging its partnership with those parties to work toward a seamless transition.”

The decision to simplify its business structure and operate under one brand “closely follows” its organizational realignment, completed in the first quarter of 2023, into three channels that each serve a specific business model for financial advisors, it said.

(Pictured: Jamie Price, Advisor Group CEO and president)