Affiliated Advisors, a large office of supervisory jurisdiction with independent broker/dealer Osaic, recruited 30 new advisors representing $1.5 billion in assets from among other broker/dealers and solo practitioner shops in the first quarter.
The additions have boosted Affiliated Advisors’ total assets under administration to almost $7 billion through its more than 150 advisors and their teams. The New York-based firm offers partner advisors business consulting, compliance, technology, marketing, investment advisory options and a support staff.
Founder and President Rita Robbins attributed the affiliation’s growth to continued disruption in the space—see LPL Financial’s recent move to acquire Commonwealth Advisors—along with advisors looking for support beyond systems and processes.
“Advisors are looking beyond the basics of operations and compliance,” she said. “They are looking more for firms that can deliver personalized solutions, specifically around growth, whether organic or inorganic, how to use technology to drive profitability and efficiency, practice management, marketing and human capital.”
Robbins said Affiliated Advisors has built a team to provide those services during its over 30-year history, including specialists in technology and the client experience.
She said several advisors have joined from broker/dealer LPL, and the firm is in talks with Commonwealth advisors who may be considering a transition. That pending acquisition is slated to be completed in the second half of 2025.
Affiliated Advisors and Osaic are recruiting in a highly competitive market. Firms including Cetera, Raymond James Financial Services and Kestra Financial are offering sweetened recruitment deals for Commonwealth advisors to join them.
To compete, Affiliated Advisors touts advisor programs ranging from next-generation advisor development to continuation planning to succession.
The firm recently established its Synthesis Advisor Program for next-generation advisors, which provides coaching and resources.
In terms of succession, the firm has executed 26 transactions in the last four years of close to $1 billion in acquisitions, mergers or sales, Robbins said.
Last year, the firm launched an affiliation model for fee-only RIAs, targeting those with books of business ranging from $100 million to $250 million. The affiliation model is built on Osaic’s RIA platform, and advisors operate under Osaic’s Form ADV while retaining their brand and ownership.
Robbins said that more advisors in that “muddy middle” will see the need for support to run their practices efficiently and profitably and prepare for the future.
Meanwhile, as consolidation continues in the industry, she sees personalized service for advisors becoming “rarer and rarer.”
“It’s mega-firms or inadequate resources in the marketplace,” she said. “I think we’re in a unique spot to provide the resources of a mega-firm but expertise from a group of people who really love what they do.”