World Investment Advisors, the recently renamed division of World Insurance Associates, is boosting its support for the advisors within its network.
On Thursday the firm, which formally shed its former brand identity as Pensionmark in July, announced it had entered into a new custodial partnership with Raymond James Financial, marking a strategic step in a continuing effort to enhance its offerings for independent financial advisors and wealth management practices.
The partnership follows World’s mid-July acquisition of Boston Harbor Wealth Advisors, a $3.5 billion firm that has worked with Raymond James for nearly a decade.
Troy Hammond, CEO of World Investment Advisors, highlighted the importance of this new relationship for their advisors.
“We are excited about our new relationship with Raymond James and the additional resources it allows us to bring our advisors,” Hammond said in a statement.
The collaboration aims to broaden custodial options for World’s advisors and clients, offering a flexible experience tailored to their needs.
“The addition of another custodian choice... is very much in line with these key pillars of our wealth management value proposition,” Hammond said.
Creating flexibility for advisors would certainly rank high among the list of items on World's agenda as it looks to expand its reach across the wealth space.
In August, World Investment Advisors tapped 24-year veteran Kevin Ryan as its new CFO. At the time, Hammond highlighted his "proven track record of delivering sustained shareholder value, managing complicated M&A transactions and developing and implementing operational efficiencies."
Shortly after came the news that World, still using the Pensionmark name, had agreed to acquire Financial Solutions, a $950 million RIA with a 30-year history of operating in the Midwest.
It's a showdown for the ages as wealth managers assess its impact on client portfolios.
CEO Ritik Malhotra is leveraging Savvy Wealth's Fidelity partnership in offers to Commonwealth advisors, alongside “Acquisition Relief Boxes” filled with cookies, brownies, and aspirin.
Fraud losses among Americans 60 and older surged 43 percent in 2024, led by investment schemes involving crypto and social manipulation.
The alternatives giant's new unit, led by a 17-year veteran, will tap into four areas worth an estimated $60 trillion.
"It's like a soap opera," says one senior industry executive.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
