Concurrent Officially Launches RIA With Over $440 Million in New Assets

The multi-custodial RIA attracts 5 new advisor groups at outset, with over 2 dozen additional advisor groups set to join in Q2 and Q3

Concurrent Investment Advisors, LLC (“Concurrent”) has successfully restructured as a multi-custodial, hybrid registered investment adviser (“RIA”). Advancing on its mission of empowering growth for independent advisors, Concurrent attracted five new advisor groups at launch, onboarding Allegiant Wealth Partners of Virginia Beach, Virginia; Danielson Tate Capital Partners of Mandeville, Louisiana; Spectrum Wealth Partners of West Berlin, New Jersey; Price Financial Management of Berlin Township, New Jersey; and Alex Reid, who joined existing Concurrent partner Columbia Associates.

These flagship groups account for over $440 million in new assets under management on the Concurrent RIA platform. Concurrent’s continued investment in its advisors, ability to foster and support unique, independent brand identities for each office, and a trove of strategic and technology resources drew the advisors to Concurrent as a destination platform. The firm is also beginning to transfer its existing offices to this RIA platform, with more than two dozen advisor groups expected to onboard in Q2 and Q3 — enabling Concurrent to reach more than $17 billion in assets under advisement by the end of 2023.

Concurrent first unveiled its plan to restructure in Q3 2022, citing its goal of providing advisor partners with a broader range of investment strategies, products and technology. Since that time, Concurrent selected Fidelity as its first custodial partner in November 2022, and has added key leadership to advance the firm’s forward-looking strategy. Concurrent has also aligned with top technology providers, including Practifi, Black Diamond, SmartX and others, to arm its advisors with the tools they need to succeed.

“Throughout our history, we have been driven to provide advisors with the tools, resources and support they need to grow their businesses, and embrace an independent and fiduciary-based model,” said Concurrent co-Founder Nate Lenz. “To have five new joins, even through an intense transition period, speaks to the success and culture our advisors have demonstrated to the marketplace over the years.”

Advisors aligning with Concurrent gain access to its team of professionals who offer support at every level of a client engagement, including operations, investment strategy and research, planning tools and resources. Concurrent’s partnership with Merchant has fueled its growth in the last two years and will continue to advance the firm toward its goals.

“Concurrent’s track record of innovation, advisor support and superior talent have long made it a destination for independent advisors,” said John Phillips, Head of Platform Sales at Fidelity Institutional Wealth Management Services. “We are proud to provide world-class service and resources as Concurrent launches into the next stage of their growth journey and serves the growing need of hybrid advisors.”

“We have a clear vision for Concurrent’s future, led by advisors who embody our mission of growth and independence,” added Lenz. “We invite advisors who share this vision to connect with us and help build the path forward.”

About Concurrent

Concurrent is a multi-custodial, hybrid registered investment adviser (RIA) created to give independent advisors all the resources they need to grow their businesses and adapt to the evolving financial needs of their clients. Headquartered in Tampa, Florida, Concurrent was established in 2017 by former advisors, business owners and industry leaders to cultivate a national network of independent providers of unbiased, fiduciary advice.

Through a partnership with Merchant, Concurrent offers its advisors strategic resources, full operational support, and opportunities to align through shared equity and mutual success. Independence and collaboration are central to Concurrent’s ethos, as advisors maintain their autonomy and unique value while sharing best practices and best-in-breed technology to grow as entrepreneurs.

To learn more about Concurrent, visit www.poweredbyconcurrent.com.

Fidelity Investments® is an independent company, unaffiliated with Concurrent. Fidelity is a service provider to Concurrent.

There is no form of legal partnership, agency affiliation, or similar relationship between your financial advisor and Fidelity, nor is such a relationship created or implied by the information herein. Fidelity has not been involved with the preparation of the content supplied by Concurrent and does not guarantee, or assume any responsibility for, its content.

Fidelity Investments is a registered trademark of FMR LLC.

Fidelity® provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC.

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