D.A. Davidson Expanding: Firm Attracting Advisors Nationwide
Regional firm ends fiscal year with strong growth trajectory
D.A. Davidson & Co. is closing the books on a fiscal year marked by growth and expansion, with the regional firm adding advisors, teams and new offices in cities across the United States.
“We’re very pleased to continue our growth strategy, enabling us to recruit some incredibly talented and committed advisors,” said Michael Purpura, President of D.A. Davidson Wealth Management. “Our professionals consistently tell us they enjoy our client-first approach, employee ownership model and strong culture, making D.A. Davidson uniquely positioned to attract exceptional advisors to our team.”
At the end of the firm’s fiscal year on Sept. 30, D.A. Davidson’s recruiting efforts resulted in a 36% increase in experienced advisors joining the firm from the previous year. Besides hiring numerous single advisors and teams, the firm expanded its geographic footprint during the 2019 fiscal year by opening new branch offices in California, Florida, New Jersey, North Dakota and Oklahoma.
- The firm opened a branch in January in Roseville, a northern California city, and later hired additional advisors for that office, including a team that focuses their business on wealth management solutions for high net worth clients, advising plaintiffs and attorneys regarding structured settlements.
- On the nation’s East coast, the firm hired new financial advisors in Jacksonville, Fla., and Red Bank, New Jersey, where senior-level advisors joined. As members of D.A. Davidson’s Community Bank & Wealth Management Group, the advisors offer traditional wealth management services and solutions as well as a range of services for community banks and banking executives.
- Early in the year, D.A. Davidson opened a new branch with another senior-level team of advisors, this one in West Fargo, N.D.
- The firm also has hired experienced advisors in offices in its more traditional footprint across Western states. The most recent additions have joined D.A. Davidson in California, Montana and Oregon.
Purpura said he believes the firm offers a compelling story: “D.A. Davidson epitomizes the best of our industry. While we are recruiting advisors at all levels, experienced advisors in particular come to realize that a firm like ours provides everything they want, including a great culture, flexibility, and strong support for their whole team and their unique business models. That’s a combination that’s hard to beat.”
While the regional firm has actively recruited advisors, opening offices that have expanded the Wealth Management group to several new states since 2018, D.A. Davidson also has grown through acquisition. Continuing its expansion in Midwestern states, D.A. Davidson brought a group of five senior-level advisors to the firm in early 2019 with its acquisition of Wells Nelson & Associates, a wealth management and fixed income company headquartered in Oklahoma.