Advisor Group announced Monday that Gallagher’s retirement plan consulting practice, which encompasses 90 advisors, 50 support staff and nearly $6.3 billion in discretionary assets under management, has moved its business to Triad Advisors, an Advisor Group broker/dealer. Gallagher, a hybrid registered investment advisor, joins from Kestra Financial.
It specializes in providing retirement plan consulting to defined benefit and defined contribution clients. The firm has full portfolio discretion across 55 clients and 56 pools of assets. It also acts as investment advisor and consultant for 156 clients across 195 pools of assets totaling $76 billion.
“Autonomy was a key factor in our decision to consolidate most of our major business lines, including the more than 2,000 retirement plans we oversee,” said John Jurik, Gallagher’s national practice leader for retirement plan consulting, in a statement. “A hybrid model—with Gallagher Fiduciary Advisors LLC as the RIA and Triad Advisors as the broker/dealer—provides flexibility to grow our financial planning practice.”
“Gallagher chose Triad because of its experience, expertise and focus on partnership,” said Jeff Leonard, Gallagher’s financial and retirement services leader North America, in a statement.
Advisor Group has gone through some senior leadership changes since its acquisition of Ladenburg Thalmann in early 2020.
Gary Bender, senior vice president of broker/dealer recruiting for Securities America, an Advisor Group b/d, recently left the firm after seven years to join Atria Wealth Solutions as head of recruiting. The departure follows other recruiters who have left, including Gregg Johnson, executive vice president of recruiting and revenue acquisition at Advisor Group, who left the firm last year. Johnson joined Carson Group last October as national sales director, and has since brought over a few colleagues from Securities America, including Scott M. Briganti, who was at the IBD for 22 years, most recently as vice president of branch office development. At Carson, he’s serving as vice president of partnership development.
After Johnson left, Advisor Group hired Kristen Kimmell, former head of advisor recruiting and field marketing at RBC, to take over his responsibilities as well as an expanded role. Kimmell was named one of WealthManagement.com’s Ten to Watch in 2022.