DFPG Investments launches Diversify Advisor Network with affiliate model to come

investmentnews.com:

Full-service independent wealth manager DFPG Investments has launched the Diversify Advisor Network to offer expanded affiliation options to advisors who want to grow their independent practice.

The brand will eventually comprise three parts: DFPG Investments, a broker-dealer offering for Diversify advisors; Diversify Advisory Services, an independent RIA providing services to independent investment advisors; and Diversify Wealth Management, an affiliation model offering direct equity partnership, which is expected to launch soon.

“This company was built by advisors, and we have an innate understanding of what advisors are seeking,” said Ryan Smith, co-founder & CEO of Diversify. “As private equity-backed aggregation continues to dominate the industry, it can create long-term uncertainty for advisors. At Diversify, we believe there is an alternative solution, and today’s announcement is the first step. As you’ll see in coming months, we’re creating a multi-chassis affiliation model that is focused on maintaining a selective and boutique culture, while still providing institutional quality resources.” 

The firm has also announced that three new practices have joined its platform in recent weeks, with a combined AUM of more than $560 million taking the firm’s total AUM to $5.8 billion:

Jina Horton, VP of business development for Diversify, says that it’s important to bring in advisors and practices that are a good cultural fit.

“We are excited to welcome these three terrific practices to our independent platform,” she said. “They each have unique business models but share a common goal of personalized client service that sets them apart. They joined Diversify for our service culture and commitment to providing them with