Archived News

Compass Wealth Solutions joins Advisor Group through its network member firm Woodbury Financial Services. Advisor Group also includes FSC Securities, Royal Alliance Associates, Securities America, SagePoint Financial and Triad Advisors.

Woodbury Financial Services, an independent wealth management firm within the Advisor Group network, has recruited Illinois-based Ambassador Wealth Management, a multi-service wealth management practice that oversees $257 million in total client assets. The team, which joins from Securian Financial Services, has affiliated with Northpoint Financial Group, one of Woodbury’s super-OSJ groups.

Two advisors with combined managed assets totaling $170 million are joining Woodbury Financial Services, one of Advisor Group’s broker/dealers, and in doing so, will take the reins of Life Certain Wealth Strategies, a five-person firm with $240 million in assets that is affiliated with Woodbury.

Woodbury Financial Services and affiliated office GCG Wealth Management reported that GCG Wealth Management has recruited Brinkley Financial Group. The Charlotte-based financial advisory practice has $115m in client assets. Brinkley Financial Group is headed by president and owner David Brinkley, alongside daughter Carrie Brinkley Jones who is a financial adviser at the firm.

Reg BI implementation is less than a year away, and it is arriving at a time when investors are increasingly clamoring for more open and transparent financial advice. Certainly, you could view these coming changes as a threat to the status quo. But disruption is often what keeps businesses thriving, relevant and healthy.

Charlotte-based GCG Wealth Management, an affiliate of Advisor Group firm Woodbury Financial Services in Oakdale, Minn., recruited four advisory teams managing a total of $330 million in client assets, according to a news release.

The recent passage of Reg BI comes at a time when the advisor-client relationship is already becoming more collaborative, open and transparent. The future of advice will be one in which clients are empowered by technology to work with their advisors to take further ownership of their financial lives.

Financial advisors who stayed with Advisor Group as it changed hands twice in four years will reap the rewards of their loyalty to the tune of $50 million in awards from the firm. “We wanted to do something for them to say thank you,” says Advisor Group CEO Jamie Price.

One element of the cybersecurity discussion that is often overlooked is that the biggest threat to many advisory firms is not actually to client accounts but instead to the advisory brand.

Woodbury Financial Services (Woodbury), an independent wealth management firm with 1,600 advisors across the country, today announced the addition of Black Financial Services, Inc., a woman-led financial advisory practice based in Avon, Minnesota with approximately $180 million in client assets.

Jamie Price, President and Chief Executive Officer of Advisor Group, said, “Advisor Group’s commitment to providing advisors with industry-leading tools, resources and flexibility extends to the critical area of cybersecurity. Our new CyberGuard Program leverages our scale to offer a suite of state-of-the-art cybersecurity tools that enable advisors to ensure that clients’ sensitive personal data is kept safe and secure. All the efforts of our top-notch group of security experts ladder up to our core mission – to stand in our advisors’ corner, supporting them every step of the way.”

Firms on the Advisor Group network of broker-dealers have lured three women-led teams collectively overseeing $250 million, according to news reports.