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.