Diversify Advisor Network announced that it has acquired Perspective Financial Services, a Phoenix-based fee-only firm with $290 million in assets under management.
The Sandy, Utah-based Diversify said it has also added financial advisor Jason Zivich, formerly with WealthSource, to its independent RIA, Diversify Advisory Services. Zivich is based out of Manhattan Beach, Calif., and oversees $150 million in assets.
Perspective, which was founded in 2003 by industry veteran Mike McCann, includes a team of seven seasoned advisors, most of whom have been with the firm for more than 15 years, the release said, noting that they will join Diversify Wealth Management, Diversify's W-2 RIA affiliation platform.
“We were seeking a strategic partner that had the same kind of vision, agility and responsiveness we provide to meet our clients' needs,” McCann said in a statement. “We are delighted to be partnered with a group in which there is mutual trust and respect. This firm is led by a team who truly understand the needs of advisors. That is hard to find today,” he added.
Jina Horton, vice president of business development at Diversify, said acquiring Perspective was a “big win for the Diversify family,” adding, “The entire Perspective team has an extraordinary dedication to their clients and their community. They align perfectly with the long-term vision we are creating at Diversify.”
“These recent additions illustrate perfectly the strategy we have implemented,” said Ryan Smith, co-founder and CEO of Diversify. “With a multi-affiliation model, advisors can choose a path that makes the best sense for them at that stage in their career. Advisors need optionality and a clear path of succession,” he added.
Diversify Advisor Network, an advisor-founded and advisor-led wealth management firm, offers three comprehensive affiliation models: Diversify Wealth Management, a W-2 affiliation-model RIA referred to as the “Partner Platform”; Diversify Advisory Services, which operates as a 1099 independent-affiliation RIA platform; and DFPG Investments, which serves as a full-service independent broker-dealer. The network has about $8 billion in total assets.