GCG Wealth Management has established a new division, called GCG Advisory Partners, to bridge the gap for advisers between the full-service wirehouse and full liability business owner.
The new unit is aimed at helping advisers transition to independence by offering technology, practice management support, office space, and staff, at no expense to the adviser.
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It will offer recruitment and transition assistance of wirehouse and captive adviser teams, in addition to continued support in business development and operations, the company said.
GCG Advisory Partners will also carry out succession and acquisition planning for advisers through buys outs.
The unit officially completed the acquisition of Cooper Investment Company, which manages over $270m in assets.
Cooper Investment Company president Greg Cooper said: “Joel and his team understand the importance of generational wealth building, and the value of succession planning. That is what attracted me to GCG Wealth Management.”
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By GlobalDataAs part of the launch, GCG Advisory Partners has rolled out a range of tools and resources for advisers looking for succession or acquisition planning.
GCG Wealth Management provides financial strategies for investment management, financial planning, retirement planning, estate and legacy planning, and tax management among other things.
The firm manages client assets of more than $1.5bn and has eight office locations throughout the Carolinas, Florida and Louisiana.
Last year, GCG Wealth Management acquired Brinkley Financial Group, a Charlotte-based financial advisory practice with $115m in client assets.
In 2019, the company bolstered its footprint in North Carolina by opening its second office in Greensboro.
