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Private Advisor Group Posts Near-Record First Quarter In AUM Add; New Advisors Focused On Comprehensive Wealth Planning

MORRISTOWN, N.J., April 14, 2020 /PRNewswire/

PAG announced today its second-highest quarter of new AUM (assets under management)* in company history. In 2019, PAG was recognized as one of the 200 fastest-growing Registered Investment Advisor (RIA) firms in the U.S. according to Wealthmanagement.com and was ranked third in Barron’s Top 50 RIA Firms.

“Successful growth for us is not defined by posting only record AUM, but is a combination of AUM and quality of advisors joining the PAG family. This quarter, we are pleased to report we are continuing to achieve both,” says Guy Adami, Director of Advisor Advocacy. “The role of the advisor has become more critical, especially during these challenging times. For advisors who offer comprehensive wealth planning, the conversation shifts from today’s market nuances to overall wealth management, which adds a healthy dose of perspective needed during these unprecedented times,” says Adami.

The advisors added during the first quarter span the small-to-large market in AUM, leverage different structures, post different average client sizes and services offered, but the one component they all have in common is they are in a period of significant growth. Successful in their own right, most cited they wanted to partner with a firm that provided the flexibility and ability to grow while maintaining strict oversight on compliance.

“We consistently have discussions with advisors who want to grow their wealth management business and may be constrained at their current organization,” says Pat Sullivan, Managing Director and co-founder, PAG. “Today, clients are expecting a financial advisor who can design a portfolio to progress their goals, but they also want help with generational and estate planning, college savings, insurance, retirement planning – or total family wealth planning. This expertise is needed now more than ever before as we manage through one of the most complex times in our history, and the advisors joining our PAG family are providing that support,” says Sullivan.

About Private Advisor Group

Private Advisor Group’s mission is to help advisors grow their business by providing a suite of services that enables them to stay focused on their clients. In 2019, PAG was ranked #3 on Barron’s Top 50 RIA firms and named as one of the fastest-growing firms by WealthManagement.com.

Founded by advisors John Hyland and Pat Sullivan, PAG has quickly become an industry standard for advisors seeking independence. The firm has grown to over $21 billion in assets under management (AUM), while supporting more than 650 advisors as of December 31, 2019. For more information, visit www.privateadvisorgroup.com.

*Numbers based upon new advisors previous quarter of AUM

Source: Barron’s “Top Firms,” Barron’s bases its ratings on qualitative criteria: firms with a minimum of 7 years of financial services experience, acceptable compliance records, client retention reports, customer satisfaction, and more. Firms are quantitatively rated based on varying types of revenues and assets advised by the firm, with weightings associated for each. Because individual client portfolio performance varies and is typically unaudited, this rating focuses on customer satisfaction and quality of advice. The rating may not be representative of any one client’s experience because it reflects a sample of all of the experiences of the Firm’s clients. The rating is not indicative of the past or future performance. Neither THE FIRM nor its Financial Advisors or Private Wealth Advisors pay a fee to Barron’s in exchange for the rating. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.

The WealthManagement.com 2019 Thrive Award was compiled by measuring the percentage revenue growth over the previous three years. Average revenue growth of the top 200 list was three times the industry average, as calculated by McKinsey & Company’s PriceMetrix.

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