MORRISTOWN, NJ, Sept. 19, 2022 / PRNewswire /
Private Advisor Group, one of the largest and fastest-growing independent wealth management firms in the country* is pleased to announce AK Financial Group, a full-service wealth management firm led by Andrew C. Karlinski, is joining Private Advisor Group. Overseeing over $1 billion in assets under management**, Karlinski and his team will expand Private Advisor Group’s West Coast regional presence with an additional 25 financial advisors and staff, and a new branch office located in Irvine, CA. The transition is underway and expected to be completed by year-end. Karlinski has also joined Private Advisor Group’s leadership team as Managing Director West Region.
A respected veteran of the profession, Karlinski has over 45 years of financial services experience and similar to Private Advisor Group, was an early adopter and leader in the RIA space. The cultural synergies and entrepreneur mindset, mentorship potential and opportunity to strengthen capabilities make this an ideal opportunity for both parties. In an effort to drive efficiency, refocus on business development and strengthen future succession and continuity plans, AK Financial Group will transition its RIA to Private Advisor Group.
“This is a critical step in the succession of AK Financial Group as it creates space for our entire team to stay focused on our mission to deliver a highly personalized wealth management experience that seeks to replace complexity with simplicity. Winding down my RIA operations allows me to spend more time doing what I love most; spending time with clients and mentoring financial advisors,” said Andy Karlinski.
Frank Smith, President of Private Advisor Group, shared “as our profession seeks to attract the next generation of financial leaders, having solid mentor-mentee relationships creates conditions for success for both the incoming and exiting advisor. We are incredibly honored to welcome Andy and his team of advisors to Private Advisor Group and look forward to working together to enable the delivery of independent financial advice through an unparalleled network of advisors who are aligned in their passion and commitment to this profession.”
With the transition underway, all AK Financial Group advisors are invited to join Private Advisor Group. Both firms have registered representatives affiliated with LPL Financial as their broker-dealer which creates further alignment from which to efficiently and sustainably grow into a shared future.
Since its founding, Private Advisor Group has consistently demonstrated an ability to grow successfully and sustainably in the independent financial advisory space. In 2021, it was named to Barron’s Top 100 RIA firms and has continually secured a top 10 position since 2019. Private Advisor Group will continue to recruit financial entrepreneurs nationwide who are seeking to model a practice that favors independence, and those looking to grow smarter and more confidently while expanding upon comprehensive planning services and an emphasis on the end-client experience.
About Private Advisor Group
Founded in 1997 in Morristown, NJ, Private Advisor Group is one of the nation’s leading financial services firms. With over $33 billion in assets under management as of December 31, 2021, the firm leverages its resources to deliver strategies positioned to improve financial outcomes for individual investors and to inspire growth, fiduciary adherence, succession and a client-centric approach for independent financial advisors’ practices. Barron’s has recognized Private Advisor Group as a top ten registered investment advisory firm since 2019.
*Barron’s “Top 100 RIA Firms” ranking is based upon quantitative and qualitative criteria including: regulatory records, client retention reports, assets managed, revenue generated, technology spending, number of clients, size and diversity of staff, placement of a succession plan, and more. Investor experience and returns are not considered. Neither Private Advisor Group nor its financial advisors pay a fee to Barron’s in exchange for the ranking.
For more information, visit www.privateadvisorgroup.com.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through Private Advisor Group a registered investment advisor. Private Advisor Group and AK Financial Group are separate entities from LPL Financial.
**Assets under management are as of May 31, 2022 and encompass the firm’s RIA operations which are in transition.