Diversify Advisor Network Adds $645 Million Firm To Partner Platform

Delaware-Based Key Advisors Transitions From Independent To Employee Model
Eddie Ghabour, Co-Founder & CEO, Key Advisors Wealth Management and Ryan Smith, Co-Founder & CEO, Diversify Advisor Network
Eddie Ghabour, Co-Founder & CEO, Key Advisors Wealth Management and Ryan Smith, Co-Founder & CEO, Diversify Advisor Network

Diversify Advisor Network announced that Key Advisors Wealth Management, a Delaware-based fee-only firm with $645 million in assets under management, is joining Diversify Wealth Management.

Co-founded by Eddie Ghabour in 2000, Key Advisors first joined Diversify’s independent platform in 2022 under Diversify Advisory Services. The firm is now transitioning to Diversify Wealth Management, Diversify’s Partner Platform. Ghabour will become an equity holder in Diversify and have a leadership role in the organization.

Ryan Smith, Co-Founder and CEO of Diversify Advisor Network, said, “The industry needs to create more aligned partnership solutions for advisors. Part of the design for our Partner Platform was to allow our independent advisors an affiliation model in which they could monetize their practice, plan for clear succession, and take an equity position alongside our founders. Eddie and his team at Key represent the exact type of practice we envisioned benefiting from this flexibility. Eddie knows our platform well and is a strong advocate for what we created.”

Launched in December 2023, Diversify Wealth Management is a W-2 employee-affiliation-model RIA that joined Diversify Advisory Services, an independent RIA platform, and DFPG Investments, an independent broker-dealer, as part of the Diversify Advisor Network. The combined firms have approximately $7 billion in total assets.

Ghabour said he was “thrilled with this expanded partnership in Diversify and the opportunity to take a seat alongside the other advisor-founders in helping guide the firm into the future. Joining the Partner Platform was the right move for Key, where we will be able to not only retain the autonomy to run our business and serve our clients as we believe best but also take advantage of the synergies and scale that come from being more fully integrated with Diversify.”

Diversify Advisor Network has been building its internal asset management platform and investment team led by David Wrigley, its Chief Investment Officer. In February, the firm hired Kevin Bendix as Chief Legal Officer.

Michael Madden, Contributing Editor & Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.

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