The 20/20 Wealth Management Group, based in Auburn, Ala., has joined Securities America, bringing with it $120 million in client assets, Advisor Group announced Tuesday.
The 20/20 Wealth Management Group specializes in serving clients who are in or near retirement, according to Advisor Group, a network of independent wealth management firms. Securities America is part of the Advisor Group network.
The hybrid financial advisory practice has five advisors, including founding partner and branch manager Lon Simpson and founding partner Dr. Eugene Oks. The practice has affiliated with Securities America through one of Securities America’s corporate RIAs, Arbor Point Advisors, based in La Vista, Neb., and through Bay View Capital Advisory Group, a super-OSJ based in St. Petersburg, Fla.
Arbor Point Advisors, which provides advisors with back-office support and compliance functions, has added more than $1 billion in advisory assets and raised its total client assets to nearly $4 billion in recent years. Bay View Capital Advisory Group provides technology and compliance support. The affiliation will help the 20/20 Wealth Management Group continue on its growth trajectory, said Simpson.
Gregg Johnson, who was recently appointed to the newly created position of executive vice president of recruiting and revenue acquisition for Advisor Group, said, "The affiliation with the 20/20 Wealth Management Group fits well with Securities America’s comprehensive planning approach.
"The creation of the new role puts additional focus within Advisor Group on the growth side of the business for both recruiting and acquisitions. Advisor Group and the former Landenburg Thalmann firms have seen success in growth in recent years,” he added. Advisor Group and Landenburg Thalmann merged in February.
Johnson said the pace of new affiliations and mergers and acquisitions should pick up once the COVID-19 pandemic has subsided.
Jamie Price, Advisor Group president and CEO, said last week after a series of executive promotions were announced that Advisor Group was in a position to add both firms and advisors to its network.