Deals & People August 20, 2014

NFP Adds Dozens of Advisers from RPAG

NFP, a provider of employee benefits and wealth management advisory services, has added 53 new advisers to its staff.
Reported by

The firm says all of its new adviser network members arrive from Retirement Plan Advisory Group (RPAG), also an independent retirement plan consulting firm. The additions come on the heels of the formal integration of RPAG and another independent firm, 401(k) Advisors, into the NFP network (see “NFP Integrates 401k Advisors Tools and Services”).

James Poer, president of NFP Advisor Services, says the firm hopes to continue its “significant recruiting momentum and further solidify NFP’s position as a premier home for advisers in the retirement industry.” He says the news is also indicative of the retirement plan tools and support that NFP Advisor Services provides independent advisers.

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According to NFP, the firm’s relationship with Nick Della Vedova, president of RPAG, played a critical role in the hiring of the new advisers. Della Vedova helped found RPAG alongside Vince Giovinazzo. RPAG works with some 475 member firms, serving approximately 28,000 plans with $150 billion in assets under advisement. 

Both 401(k) Advisors and RPAG continue to operate independently of NFP following the formal integration—though they have been wholly-owned subsidiaries of NFP since 2006.

More information is available at www.nfp.com.

Products August 19, 2014

Hybrid RIA Opens for Business

Triad Hybrid Solutions, a registered investment advisory firm (RIA) newly created by Triad Advisors, serves fee- and commission-based independent financial advisers.
Reported by

The RIA primarily targets small to midsize independent advisers interested in owning their own RIA firms. Among the advantages are offloading growing regulatory complexity and costs to an industry expert. Triad Hybrid Solutions offers investment adviser representatives (IARs) the flexibility of custodial partners typically associated only with RIA firm ownership.

Affiliated independent advisers of Triad Hybrid Solutions can use a range of custodians, including Charles Schwab & Co., Fidelity Institutional Wealth Services and National Financial Services LLC. The firm anticipates more custodial partnerships later in the year.

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Triad Hybrid Solutions expects to attract investment advisers of RIAs that deal with multiple state registrations, those who do not have the desire to dedicate staff and resources to RIA maintenance, or wirehouses breakaways who may prefer an established structure. Association with Triad’s broker/dealer also lets financial professionals offer products and services in a true hybrid business model, serving clients on either a fee or commission basis.

Triad Hybrid Solutions will offer the benefits of customized, end-to-end practice management support through third-party providers. Resources include Advent Software’s Black Diamond portfolio management and performance reporting technology, as well as Salesforce.com’s customer relationship management (CRM) solutions.

The business model of Triad Hybrid Solutions meets a rapidly growing demand among an overlooked yet sizable segment of the independent adviser population, says Michael C. Bryan, senior vice president of advisory services. “Advisers can leverage our extensive experience in the hybrid space, access industry-leading tools and take comfort in knowing we manage the significant challenges of compliance and regulatory changes,” he says. Bryan will serve as CEO of Triad Hybrid Solutions.

Hybrid Advisors Inc., headquartered in Atlanta, is a national, independent broker/dealer and multi-custodial RIA.

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