RFG Advisory, the Birmingham, Ala.-based hybrid RIA platform with nearly $6 billion in assets under advisement, has attracted two advisor teams to launch their own independent firms. Jarrod Biebel, a Denver-based advisor with about $300 million in assets, has created TrekNorth Investment Management. James Horn, an advisor with two offices in upstate New York and $60 million in AUM, has founded Matterhorn Private Wealth.
Biebel joins RFG’s platform after eight years with Raymond James & Associates, reinforcing RFG’s presence in Colorado. He expects to build TrekNorth over the next decade and expand his team to meet clients’ needs. He’s joined by Angelica Walter, senior relationship manager.
Horn makes the move from Edelman Financial Engines, where he was a director of financial planning, according to his LinkedIn profile. His practice expands RFG’s presence into the Northeast, with offices in Rochester and Buffalo, N.Y. He decided to move for greater business autonomy and to create enterprise value. He expects to double his assets within the first year at RFG.
“We’ve been deeply invested in elevating our platform over the past 12 months,” RFG Advisory CEO Shannon Spotswood said in a statement. “Our aim is to provide entrepreneurial advisors seeking the latest technology, comprehensive service and personalized support with a platform to help them build enterprise value.”
In the last year, RFG has added 21 advisors to its platform and 35 new hires, including Abby Salameh as chief growth officer, Brendan Frazier as chief behavioral officer, Kenneth Kim as chief financial officer, and Katie Welch as senior director of advisor marketing. In July, RFG promoted Spotswood to CEO, succeeding Bobby White, who had led the firm since its founding in 2003. White transitioned to an executive chairman role.
The firm also recently announced a “brand refresh” that included a new website that it hopes will reflect its “future-forward model” of supporting independent advisors. That coincided with RFG’s re-launch of StrongHer Money, an initiative to address generational wealth transfer. Jillian Berry, a former senior business designer and team lead at Edward Jones, recently joined RFG to head that initiative.
In 2023, RFG sold a majority stake in the firm to the private equity firm Long Ridge Equity Partners. The firm had been management-owned since White founded it in 2003, and the Long Ridge deal marked the first time the RIA brought in outside capital. Long Ridge previously backed Carson Group before selling its stake to Bain Capital in 2021.