The new RIA stems from the group that was once part of an asset management business. As part of the strategy, acquisitions of other advisor firms are being planned.

A new RIA, once a division of Strive Asset Management, has been spun out under a similar-sounding moniker of Thryve Wealth Management.

The business, headquartered in Dallas, Texas, is “designed to move beyond conventional wealth management by combining fiduciary standards with innovative strategies for the new frontier of investing,” it said in a statement yesterday. 

Thryve Wealth Management has about $270 million in AuM. Beyond organic growth, the firm said it intends to acquire other RIA teams and advisors. 

“We are at a pivotal inflection point defined by growth and innovation in artificial intelligence, quantum computing, and the transformative impact of digital currencies,” Gary K Dorfman, CEO of Thryve Wealth Management, said. “Investors seek both diversification and innovation in their portfolios. As the world evolves, so do our portfolios. Our approach focused on investing in the future will differentiate us in an industry where traditional modeled portfolios have become the accepted solution.”

The firm emphasizes that its investments are centered on US markets.

“Advisors will join Thryve as partners, becoming part of a purpose-driven team focused on the belief that the true measure of success is our clients’ success. Unlike private equity roll-up strategies that prioritize AuM growth, we are motivated by long-term value creation for the families we serve,” Laura Brady, chief growth officer, said.