Concourse Financial Group, a division of insurance provider Protective Life Corporation, recruited Key Group Management, a hybrid RIA with nine professionals and over $500 million in assets, to its broker-dealer, Concourse Financial Group Securities. Concourse serves over 500 independent financial professionals across the U.S.
The New Jersey, Massachusetts and Arizona-based Key Group specializes in providing insurance, estate planning, wealth management and financial planning primarily to a high net worth demographic.
According to Key Group’s Co-Founder, President and Principal, Colin Heafy, Birmingham, Alabama-based Concourse’s support and access to management were deciding factors in the firm’s decision to partner with the broker-dealer.
Heafy stated, “[O]ne of things that was particularly important was finding a firm that could offer increased scale and resources and still provide a boutique-like, personalized service experience.”
Doyle Williams, CEO of Concourse, emphasized that Key Group’s focus on growth and entrepreneurial mindset made it a good match for his firm, expressing that Concourse is equipped and suited to accelerate growth and support client service for growth-centric firms such as Key Group.
Concourse Financial Group Securities’ President, Libet Anderson, noted that her firm provides a stable leadership and ownership structure that allows affiliates to focus on running their business without distractions, in contrast to private equity-owned firms, as “private equity increasingly [takes] short-term positions in firms across the industry.”
Michael Madden, Contributing Editor & Research Analyst at Wealth Solutions Report, can be reached at email@example.com