The Advisor Group announced a record-breaking year of recruitment, adding 614 financial advisors with almost $13 billion in client assets under administration (AUA) to the company’s four wealth management firms.
The Advisor Group is one of the nation’s largest networks of independent financial advisory firms, consisting of FSC Securities Corporation, Royal Alliance Associates, SagePoint Financial and Woodbury Financial Services.
The 614 new recruits in 2017 represent a 53% increase from the 400 advisors who were hired in 2016, according to the network.
In addition, new assets for the firm were up almost 300%, on average, with current advisors gaining double-digit revenue and AUA growth exceeding that of the market, said a network representative.
“2017 was our best recruiting year yet,” said Jamie Price, the Advisor Group’s president and CEO.
Woodbury, headquartered in Oakdale, Minn., added 213 new advisors in 2017, with $5 billion in AUA.
SagePoint Financial, based in Phoenix, added 171 advisors in 2017, and they brought $4 billion in AUA to the firm.
Royal Alliance Associates, located in Jersey City, N.J, gained 172 advisors bringing a collective $3 billion in AUA. And FSC Securities Corporation, headquartered in Atlanta, added 58 new advisors last year, with $1 billion in AUA.
The Advisor Group is one of the nation’s largest networks of independent financial advisors serving over 5,000 advisors and overseeing approximately $190 billion in client assets.