J.W. Cole Financial, an independent broker-dealer, has acquired Financial Advisors of America for an undisclosed price, J.W. Cole announced Wednesday.
The combined firms will have $10 billion in client assets being served. J.W. Cole will now have headquarters in Tampa, Fla., and San Diego, Calif., which was the home of Financial Advisors of America, which was an independent broker-dealer.
With the acquistion, J.W. Cole now partners with more than 400 independent advisors across the country and has revenues projected for 2013 of $100 million. The combined firm has 47 employees.
“The future of our industry is not going to be about size, it is going to be about client experience and making a client feel individually relevant, not just a rounding error,” said R.J. Wood, founding principal of J.W. Cole. “The future of our industry is also helping the individual advisor have the same beneficial experience regarding their broker-dealer.”