Delich Wealth Management Joins Advisor Group’s Financial Dimensions Group, Bringing $250 Million In Client Assets From RBC Wealth Management
New Brighton, Minnesota-based Delich Wealth Management joined Advisor Group from RBC Wealth Management, bringing $250 million in client assets to Financial Dimensions Group, which manages over $4.2 billion in assets across more than 60 financial professionals.
Delich Wealth Management focuses on accumulating wealth, protecting assets, creating a retirement income stream and transferring wealth. Tom Delich, who founded the firm, works alongside Wealth Advisor Ben Freeby and Registered Client Associate Mary Farnham. Delich has over 25 years of financial services experience, nearly 23 of which he spent at RBC. Freeby has six years of industry experience and holds the Certified Financial Planner (CFP) designation. Farnham began her career in the financial industry in 1979.
“I’m pleased to welcome Tom and his team to Advisor Group. Their impressive growth and dedication to holistic wealth management make them a great addition to Financial Dimensions Group,” Greg Cornick, Advisor Group’s President, Advice & Wealth Management, said in a press release. “Our value proposition and scale continue to resonate across the marketplace, as advisors are attracted to our industry-leading combination of resources, services and support that helps unlock their growth potential.”
Financial Dimensions Group is an Arden Hills, Minnesota-based firm that serves more than 3,900 clients across 27 states. It offers securities and investment advisory services through the Advisor Group subsidiary Royal Alliance Associates. Advisor Group, a portfolio company of Reverence Capital Partners, encompasses more than 11,000 financial advisors.
“We are thrilled to welcome Tom and his team to our firm,” said Gregg Anderson, Founder and President of Financial Dimensions Group. “Their client-centric approach to wealth management is a perfect fit with our values and culture that puts the client at the center of all we do. We look forward to working with Delich Wealth Management as they leverage our scale and resources to define success on their own terms.”
Delich Wealth Management is Advisor Group’s first recruitment announcement since the company announced its comprehensive rebranding initiative two weeks ago. Advisor Group plans to transition from its current multi-brand network model to a single, rebranded entity under a simplified operating structure and will unify eight wealth management firms currently part of the Advisor Group network into one structure.
Last month, Westlake Village, California-based Silverberg Wealth Management joined Advisor Group from Cetera, bringing $212 million in assets to NWF Advisory Group (NWF), another large team affiliated with Royal Alliance. Advisors Marcus Silverberg, Gregg Turkin and Victor Mastrella joined along with Branch Operations Manager Dana Toth. Silverberg and Toth both have more than 20 years of financial services experience, Turkin has 19 years of experience and Mastrella has 15 years of experience.
Also in April, Advisor Group launched a digital Personal Credit Line securities-based lending solution, for financial professionals to help clients solve their liquidity needs. It enables clients to borrow against their investments without lowering the value of their portfolios. Part of the potential value-add for advisors is maintaining the course on clients’ long-term financial plans, throughout unanticipated life changes, instead of liquidating assets to address a cash crunch.
For full-year 2022, Advisor Group reported total gains of $84.2 billion in client assets and bringing on more than 1,800 financial advisors. Its acquisitions last year included American Portfolios Financial Services and Infinex Financial Holdings, which respectively added $33 billion and $30 billion in assets.
“We are excited to partner with Financial Dimensions Group and look forward to all the benefits of being part of Advisor Group,” Delich said. “After researching the many firms out there, we believe we found the best solution for our firm and, more importantly, our clients. Their multitude of investment strategies broadens our current capabilities, while their advanced trading tools and state-of-the-art technology will allow us to best address our clients’ needs.”
Chris Latham, Deputy Managing Editor at Wealth Solutions Report, can be reached at email@example.com