Advisor Group Acquires $30 Billion Firm to Expand Multi-Channel Leadership

Advisor Group, one of the nation's largest networks of independent wealth management firms, today announced a definitive agreement to acquire Infinex Financial Holdings, Inc. ("Infinex"), the holding company of a privately-held broker-dealer. 

Infinex, which has a primary focus on supporting banks, credit unions and financial institution-based financial advisors and their clients, has more than 750 financial professionals overseeing approximately $30 billion in client assets. The firm currently supports more than 230 community-based bank and credit union programs with clients in all 50 states.

The acquisition has been purposefully structured to create a seamless transition for Infinex's financial institution partners, affiliated financial advisors and their clients, with no restructuring or repapering of accounts necessary. 

Following the completion of the transaction, which is subject to FINRA and other regulatory approvals, Infinex will become a member firm in the Advisor Group network of firms, and remain under its own distinct brand, highly successful executive leadership team and unique operating model. Infinex President and CEO Stephen Amarante will join Advisor Group's Executive leadership team, lending his deep expertise in the institutional space to the Advisor Group Executive Committee.

Advisor Group Expands Multi-Channel Leadership

"This acquisition aligns Advisor Group with one of the most widely respected firms specializing in helping financial institutions build and grow successful wealth management programs across the country," said, Advisor Group President and CEO Jamie Price. "By joining forces with Infinex, Advisor Group becomes a multi-channel industry leader with a significant presence across the financial institution space, a distinct industry channel with over $1 trillion in assets. We are honored that Infinex has chosen to partner with us and look forward to supporting the growth of financial institutions, financial advisors and the clients they support."

Stephen Amarante said, "As we developed our forward strategic vision, we recognized that driving further scale in the financial institution channel is critical to serving our clients and to achieving a sustainable, premier service experience. Partnering with Advisor Group will allow us to grow our influence and support model while maintaining the value of our firm's culture, people and position in the marketplace."

Source: PR Newswire