Royal Alliance Associates said late Tuesday that a group of 50 independent advisors, with $1.4 billion in assets and some $8 million in yearly fees & commissions, has just affiliated with it.
Savage & Associates of Toledo, Ohio, which previously used Walnut Street Securities as its broker-dealer, cited Royal’s technology, service and open-architecture platform as key reasons for the move, says the independent broker-dealer, which is part of the AIG-owned Advisor Group.
“We are honored to have a firm as respected in the industry as Savage & Associates join Royal Alliance,” said Royal Alliance President & CEO Arthur Tambaro (left), in a press release. “Their commitment to success and quality client support exemplify the high standards we look for in an affiliating firm.”
The Savage news comes about three months after Royal Alliance added two independent teams in Chicago and Salt Lake City with combined assets of more than $400 million and nearly $3.5 million in yearly fees and commissions. Overall, Royal Alliance has close to 2,000 affiliated advisors with total assets under management of about $45 billion.