The wealth management firm Diversify Advisor Network is expanding its affiliation options by launching Diversity Wealth Management and acquiring three Utah-based firms: Caliber Wealth Management, FirstPurpose Wealth and Diversify Inc., which collectively oversee about $2.1 billion in assets.
The new employee affiliation partnership model provides advisers a way to monetize their practice and take direct equity in the larger network.
In total, the network now oversees more than $7 billion in assets.
“We are focused on giving advisers choice and flexibility in a boutique environment with institutional-quality resources," said Ryan Smith, co-founder and CEO of the Diversify Advisor Network. "We strive to be the forever home for highly successful advisers, whether they want to retain their independence or monetize their practices through a more aligned channel."