Concurrent Investment Advisors has established a new foothold in the Sun Belt with the launch of a new independent firm.
The Tampa, Florida-based hybrid RIA announced Thursday that it has welcomed The Wealth Stewards to its expanding network of independent financial advisory firms.
The Wealth Stewards is led by managing partners Jeff Breese and Brent Mekosh, who merged their two Arizona-based practices as part of their move to Concurrent. They selected Concurrent to provide operational support and growth capital as their team of nine professionals enters the RIA space.
The merger was more than a year in the making as Breese and Mekosh had been making plans for it even during their time together as independent advisors at Raymond James Financial Services. Their aim was to expand services for business-owner clients and strengthen the team's expertise.
“Jeff and Brent are exactly the caliber of advisor we built Concurrent to support,” Nate Lenz, CEO of Concurrent, said in a statement. “They have taken a major step forward in their professional journey together, and their clients will reap the benefits of their ambition for years to come.”
Aside from its ability to handle the complex merger transaction, the two RayJay alums reportedly chose to break away to Concurrent as it offered legal and transition support, and also helped launch The Wealth Stewards’ new digital presence.
To bolster the firm's foundation, they brought on Ryan Reming, who also comes from Raymond James, bringing the newly formed firm's reported assets under management to over $500 million at launch.
“From the outset, Concurrent showed us they understood builders. We build wealth for our clients, but we also want to build our own business as independent entrepreneurs,” said Mekosh.
The Wealth Stewards, with offices in Phoenix and Chandler, Arizona, will use Concurrent's platform, operational support services, and strategic consulting resources as they focus on creating tailored solutions for high-net-worth individuals and families.
“The relationships Concurrent has in place, the range of support services, and their understanding of what we want to accomplish made them the obvious choice for Brent and me,” Breese said.
Since embarking on its journey as an RIA last May, the firm has gathered north of $2 billion in new assets as it enticed advisor talent from the likes of Wells Fargo.
Recently, it bolstered its leadership with four industry veterans in a bid to create opportunities for growth and succession for its advisors.
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