Concurrent Advisors Recruits $936 Million Dollar Wells Fargo Advisors Team to Launch in Dallas Market

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CONCURRENT FOLLOWS UP A BILLION DOLLAR RECRUITING FIRST QUARTER BY ADDING A NEW PARTNER OFFICE, WEALTH PARTNERS ALLIANCE, WITH $586 MILLION UNDER MANAGEMENT and $350 MILLION UNDER ADVISEMENT, IN DALLAS, TEXAS.

San Diego, California — April 30, 2019—Concurrent Advisors, an advisor-owned partnership of independent practices aligned with Raymond James Financial Services that oversees 74 advisors across 28 offices nationwide, announced today that David McBee, Michael Mikeska, Michael Peschel, and Brittany Smith, formerly of Wells Fargo Advisors, have joined. The team has partnered with Rick Lima and John Saalfield, formerly of UBS, to launch Concurrent’s newest partner office, Wealth Partners Alliance, in Dallas, Texas. Between the two teams, the office manages over $800 million in private client assets under management and $350 million in corporate retirement plan assets under advisement.

Founded by several large independent advisory teams in 2016, Concurrent provides a hybrid affiliation option for breakaway advisors seeking a streamlined path to independence, enhanced resources, and a partner for growth, and has recruited more than a billion and a half dollars in assets year to date.

“In working with the Wealth Partners Alliance team, it became apparent quickly that they shared our vision and had the entrepreneurial drive to succeed in the independent space,” stated Mike Hlavek, Concurrent’s COO & Founding Partner. “We are confident that our platform and advisor-centric service model will help them transition from a top tier practice in the Dallas market to a top tier firm, regionally.”

McBee, a Founding Partner of the team that left Wells Fargo Advisors said, “During our due diligence process, we met with all of the major players. In the end, it came down to being able to control our destiny and having the opportunity to build our own unique culture. Concurrent provided the platform, economics, and support to allow us to deliver on the service model that our clients have come to expect and that our advisors deserve.”

Wealth Partners Alliance & Concurrent Will Continue to Grow

Peschel, Founding Partner at Wealth Partners Alliance, sees continued growth. “We will continue to attract advisors here in Texas and beyond. The opportunity to take ownership of their business while tapping into the resources of a broader partnership is transformative. This is only the beginning.”

Concurrent has been on a recruiting tear over the past two years, attracting over $3.5 billion in recruited assets under management and $3.2 billion in corporate retirement plan assets under advisement since inception.

David McBee, Michael Mikeska, Michael Peschel, Brittany Smith, Rick Lima, and John Saalfield are all Wealth Advisors affiliated with Raymond James Financial Services. Mike Hlavek is a Registered Principal affiliated with Raymond James Financial Services.

Securities offered through Raymond James Financial Services, Inc. member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Concurrent Advisors and Wealth Partners Alliance are not broker/dealers and is independent of Raymond James Financial Services.

About Concurrent Advisors

Concurrent Advisors, an advisor-owned partnership of independent practices aligned with Raymond James, oversees $4.6 billion under management and $8.3 billion under advisement with 74 advisors across 28 offices nationwide as of April 2019. Based in San Diego, CA, and founded by several large independent advisory teams in 2016, Concurrent provides a hybrid affiliation option for breakaway advisors seeking a streamlined path to independence and enhanced resources. www.concurrentadvisors.com

About Raymond James Financial Services

Raymond James Financial Services, Inc. is a financial services firm supporting independent financial advisors nationwide. Since 1974, Raymond James Financial Services Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF) a leading diversified financial services company with approximately 7,900 financial advisors throughout the United States, Canada and overseas with total client assets of $796 billion as of March 2019.

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