Woodbury Closes Acquisition of Capital One’s Full-Service Financial Advisor Business
OAKDALE, Minn, July 17, 2018 /PRNewswire/ — Woodbury Financial Services (Woodbury), an independent financial advisory firm with more than 1,200 advisors across the country, today announced that it has closed its previously announced acquisition of Capital One Investing’s in-branch, full-service investment advisory and brokerage division, which managed or administered approximately $10 billion in client-invested assets.
The Capital One advisors who joined Woodbury will have access to a flexible, open-architecture system that offers them state-of-the-art technology, business coaching, and wealth management solutions. They will also enjoy dedicated field support through Woodbury’s Regional Vice President model.
«We’re pleased to announce the successful close of this acquisition,» said Rick Fergesen, president and CEO of Woodbury Financial Services, Inc. «As Woodbury continues its growth trajectory, we remain committed to upholding our values and providing outstanding support to the advisors we serve. It’s our pleasure to welcome our new advisors into the Woodbury family, and to see them so well-positioned to continue to meet the needs of their clients while building sustainable practices.»
The smooth closure of this acquisition follows a record-breaking recruiting year for Woodbury, which saw the addition of 213 new advisors – with a combined $5 billion in AUA – in 2017. Woodbury’s parent company, Advisor Group, also achieved double-digit growth last year in both revenue and AUA as it introduced new products and services to help advisors continue to grow their businesses.
«We’re confident that our depth of resources, flexibility, and strong business coaching programs will provide our new advisors the support they need to continue to grow their businesses and best serve their clients.» said Jamie Price, president and CEO of Advisor Group.
About Woodbury Financial Services, Inc.
Woodbury Financial Services, Inc. is part of one of the nation’s largest networks of independent financial advisors and a Registered Investment Advisor, member FINRA and SIPC. Woodbury Financial is supported by Advisor Group, one of the largest truly independent broker-dealer networks in the industry. The firm has more than 1,200 affiliated independent financial advisors and is headquartered in Oakdale, MN. Woodbury employs a client-driven approach focused on meeting the unique demands of businesses and individuals. For more information visit https://www.joinwoodbury.com/.
About Advisor Group
Advisor Group, Inc. is one of the nation’s largest networks of independent financial advisors serving over 5,000 advisors and overseeing approximately $190 billion in client assets. Headquartered in Phoenix, AZ, the firm is mission-driven to support the heroic role that advisors can play in the lives of their clients, offering securities and investment advisory services through its subsidiaries FSC Securities Corp., Royal Alliance Associates Inc., SagePoint Financial Inc. and Woodbury Financial Services Inc., as broker/dealers, registered investment advisors and members of FINRA and SIPC. Cultivating a spirit of entrepreneurship and independence, Advisor Group champions the enduring value of financial advisors and is committed to being in their corner every step of the way.
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SOURCE Woodbury Financial Services