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.
All four advisory teams were formerly with Wells Fargo: Garrett Mullins managed $30 million in client assets; grandmother-grandson team Billy Ricketts and Clay Craven managed $100 million in client assets; Shell York managed $90 million in client assets; and George Harris managed $110 million in client assets.
GCG will reportedly open a new office in Greensboro, N.C., staffed by the new recruits.
Founded in 1994, GCG is a full-service business, financial, and estate planning firm offering investment, insurance and tax strategies for individuals, small businesses, corporations, and professional practices.
GCG joined the Woodbury and Advisor Group platform earlier this year, when it opened an office in Winter Park, Fla.
GCG recruits through ans affiliation model, which Joel Burris, its president and managing partner, refers to as an "advisor-preneurial” approach. The affiliation model gives advisor recruits the option of joining GCG as W2 employees, while still enjoying the benefits of full independence in their affiliation with Woodbury.
“GCG Wealth Management’s unique value proposition continues to resonate strongly with advisors from every channel of the industry,” Burris said in released comments. “Our approach gives advisors a level of support, tools and infrastructure that is truly exceptional in the independent space, while also providing them the freedom to pursue success on their own terms.”
At the end of 2017, GCG had nearly $500 million in client assets; it now has 34 affiliated advisors in eight offices across the southeastern U.S., with more than $1 billion in total client assets.