Concurrent, a San Diego-based partnership of elite independent advisers affiliated with Raymond James Financial Services, has swooped on the WealthEngage team.
Headquartered in Miami, WealthEngage is an advisory practice for newly independent advisors.
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The business was set up by Eddy Augsten, who will now assume the role of managing director at Concurrent.
In this role, he will evaluate the needs of advisers in different areas of investment management and financial planning to develop best practices.
Augsten noted: “Concurrent’s platform gives us the infrastructure, resources and thought leadership, allowing us to help advisers, who are industry leaders, elevate their practice and ultimately accelerate growth.”
Augsten’s financial services career spans around 20 years, which includes stints at Principal Global Investors and Calvert Investments.
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By GlobalDataConcurrent will also absorb WealthEngage account executive Andrew Gartrell.
At Concurrent, Gartrell will serve as director and work alongside network advisers in local markets.
In the new role, he will be tasked with implementing best practices in a customised manner, supporting organic growth, and maintaining relationships with key asset management partners.
Gartrell has industry experience of more than 25 years.
“At WealthEngage, we developed elegant processes that allowed our advisers to create a better experience for their high-net-worth clients while also maximising the efficiency of their practices,” Gartrell said.
Concurrent caters to 100 advisers in 45 offices with around $6.8bn in assets under management.
