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Industry Spotlight > Mergers and Acquisitions

Advisor Group Buys $30B Broker-Dealer Infinex

By Janet Levaux

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Advisor Group is buying Infinex Financial, a broker-dealer that has some 750 financial professionals working with about $30 billion in client assets and roughly 230 community-based bank and credit union programs nationwide. Terms of the deal were not disclosed.

“This acquisition aligns Advisor Group with one of the most widely respected firms specializing in helping financial institutions build and grow successful wealth management programs across the country,” according to Advisor Group President and CEO Jamie Price. 

“By joining forces with Infinex, Advisor Group becomes a multi-channel industry leader with a significant presence across the financial institution space, a distinct industry channel with over $1 trillion in assets,” Price added. As part of the acquisition, Infinex President and CEO Stephen Amarante will join Advisor Group’s executive leadership team.

“Partnering with Advisor Group will allow us to grow our influence and support model while maintaining the value of our firm’s culture, people and position in the marketplace,” Amarante said in a statement. 

Advisor Group, which is owned by Reverence Capital Partners, works with some 9,700 financial advisors who oversaw roughly $515 billion in client assets as of Dec. 31.

“With the acquisition of this marquee franchise, we have expanded our reach into a key channel with a true partner who is leading the field in this space. It’s an exciting time to be part of Advisor Group, and we welcome Infinex to the family,” according to Greg Cornick, head of Advice & Wealth Management for Advisor Group. 

Advisor Group’s broker-dealers currently include FSC Securities, Royal Alliance Associates, SagePoint Financial, Triad Advisors and Woodbury Financial Services.

Pictured: Jamie Price, Advisor Group President and CEO

Janet Levaux

@Think_JanetL

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