Concurrent Provides Schwab as Custodial Possibility for Advisors  

Concurrent has added Schwab Advisor Providers as one other custodial possibility for advisors after choosing Constancy as its main custodian earlier this yr, the Tampa, Florida-based firm mentioned Wednesday.

Final yr, Concurrent introduced its intent to restructure as a multi-custodial, hybrid registered funding advisor to create a extra versatile service platform, provide a wider vary of funding methods, and open new pathways of impartial progress for its groups of economic advisors.

Concurrent was established as an workplace of supervisory jurisdiction in 2017 and had been an affiliate of Raymond James, however the corporations mentioned final yr they cut up up as Concurrent restructured its enterprise.

“Raymond James has determined to finish its relationship with Concurrent Advisors and is in discussions with the department house owners relating to an orderly dissolution of our relationship,” a Raymond James spokesperson advised ThinkAdvisor on the time.

Since its relaunch earlier this yr, Concurrent has added a number of new advisor groups and recruits for present Concurrent places of work, collectively representing over $1 billion in property underneath administration.

Including Schwab as a custodial associate considerably expands Concurrent’s “worth as a turnkey vacation spot for advisors who want to set up themselves as impartial entrepreneurs with entry to a extra full arsenal of funding options, expertise, and assist to reinforce their consumer expertise,” the corporate mentioned Wednesday.

“After selecting Constancy as our main custodian and efficiently onboarding greater than $5 billion of property onto that platform, we’ve got made good on our pledge to supply our advisors a really multi-custodial framework with the vary and caliber of sources they count on to ship actually impartial, fiduciary service,” Joe McQuaid, managing director of platform options for Concurrent, mentioned in an announcement.

Leave a Reply

Your email address will not be published. Required fields are marked *