The movement of teams and advisors to Concurrent is an example of the kind of structural change affecting certain segments of the North American wealth management industry.

Concurrent, a partnership of independent advisors affiliated with Raymond James Financial Services, has worked with seven new advisor teams based in Alaska, Florida, Kentucky, Michigan and Mississippi to transition to its network. RJFS is part of the Florida-based Raymond James group.

The new teams boost the network’s total assets under management by $1.1 billion, Concurrent said in a statement yesterday. In total, the Concurrent network has nearly 115 advisors in 49 offices, overseeing more than $9.1 billion in AuM.

In recent weeks, Concurrent picked up two teams in the state of Alaska. In Fairbanks, Head Retirement & Wealth Strategies comprising advisors, Roark “Alan” Head, nearly a 40-year financial services veteran, and Austin Head, along with service associate, Deborah Combs joined the Concurrent network. The team was previously with Wedbush Securities and manages nearly $300 million in assets under management.

Also in Fairbanks, Alaska and formerly with Wedbush Securities, Krista Stamper of Stamper Wealth and Retirement Group, joined Concurrent, bringing in nearly $253 million in assets under management.

Tracy Thacker, head of Thacker Wealth and Retirement and his team comprising Tammy Duncan, Penney Brooks, and Debra Thacker, also partnered with the Concurrent network. Located in Owensboro, Kentucky, Thacker and his team hold $259 million in assets under management and were formerly with Edward Jones. 

Hendrickson Wealth and Retirement, headed by Richard Hendrickson, welcomed Kayla Jo Teckenbrock and Jackie Rainey, formerly with Edward Jones to the network. This new team brings over $87 million in assets under management to this Benton, Kentucky-based practice. Hendrickson, who chose his path to independence by joining Concurrent in 2018, was also previously with Edward Jones.

Richard Crowne and Kelly Coghlan have joined the Concurrent team located in Lakewood Ranch, Florida. Formerly with Wells Fargo Advisors, they bring nearly $147 million of assets under management. Formerly with Wells Fargo Advisors, Jason Huffman of Diberville, Mississippi joined Concurrent, adding $36 million in assets under management to the network. 

John Reeber, formerly with Wells Fargo Advisors, manages and advises on some $30 million in assets for clients in the Grosse Point, Michigan area and has joined the Concurrent network.

Based in San Diego, Concurrent was founded in 2016.