Integrated Advisors Network has acquired ReDefine Independent Advisors, an RIA consulting firm that focuses on transitioning breakaway wirehouse advisers.
The deal, whose financial terms are unknown, is said to enable Integrated to boost its Advisor Solutions Platform by attracting more financial advisers.
At present, Integrated’s platform caters to more than 50 financial advisers representing over 30 practices in 13 states.
Integrated co-founder and CEO Jeff Groves said: “Our mission is to shape the future of financial services by creating independent ownership opportunities for every financial professional through innovative strategies and unparalleled service. This acquisition represents the next step in our evolution.”
As part of the deal, former ReDefine CEO Jason Inglis will join Integrated’s management team as its president.
In his new role, Inglis will oversee the development and implementation of the company’s strategic growth plans.
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He will also lead the firm’s sales and marketing, and counsel financial advisers on Integrated’s Advisor Solutions Platform, practice transition, business structuring, and brand development as well as other operational, regulatory, and protocol matters.
Inglis said: “What Integrated has been able to accomplish in five short years – going from zero to $2 billion in platform AUM – is a testament to their business model as well as their people.
“Their real success lies in the quality relationships that they have been able to foster with network advisers, strategic partners, custodians, and the industry as a whole. They have a great team, and I am delighted to be part of it.”
In 2014, tru Independence partnered with Integrated to allow RIAs to maintain complete ownership of their practices.