HS Capital Advisors in Tampa, Fla., a registered securities broker-dealer and registered investment advisor, has added 70 advisors to its operation from the acquisition of Paulson Investment Company Inc., which took place earlier this year.
JHS now has 170 advisors in 55 officers and handles assets of $3.2 billion, a four-fold increase in 15 months. Paulson, a broker-dealer and registered investment advisor based in Portland, Ore., gives JHS a presence on the west coast.
Most of the advisors from Paulson joined JHS, says Eileen Canady, vice president of strategic development at JHS Capital Holdings. A few did not make the transition "because it was not a good fit," she says.
"We believe we are uniquely positioned on one side of an emerging dividing line within the industry," says Frank McPartland, COO of JHS, "between those increasingly using automation, self-service and call centers, versus those committed to the traditions of personalized financial advice where advisors take the time to intimately know their clients' history, family and aspirations.
"We believe our growth trajectory over the past year shows that advisors across the country are realizing that joining JHS provides them with the ability to spend more time focusing on their clients' needs," he adds.
JHS provides back-office solutions through central compliance and supervisions departments.
"The joining of JHS and Paulson retail business is a perfect example of two firms unified in the vision that the needs and interests of both advisors and clients come first," says Scott J. Bendert, JHS president and CEO. "The Paulson retail business acquisition is another significant driver of the firm's growth from both a personnel and geographic standpoint."
The acquisition of Paulson is the largest JHS has undertaken, although the firm has made a few smaller acquisitions and is now in 21 states.
"We plan on more as we go along, but we do not want to grow just for the sake of growth," he says. "Both Paulson and we did a lot of due diligence to make sure we were a good fit."