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Industry Spotlight > Broker Dealers

Advisor Group Nabs $975M Team

By Jeff Berman

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Advisor Group-affiliated broker-dealer Royal Alliance Associates has recruited Pacific Capital Resource Group, a team operating as a super office of supervisory jurisdiction (or super OSJ) with 40 advisors with $975 million in combined client assets.

Previously affiliated with Hornor, Townsend & Kent (HTK), a broker-dealer unit of Penn Mutual Life Insurance, Pacific Group has offices in Bellevue, Washington; Lake Oswego, Oregon; and Scottsdale, Arizona.

The group’s move to Royal Alliance comes nine months after Advisor Group wrapped up its purchase of several broker-dealers previously owned by Ladenburg Thalmann.

Pacific Capital was co-founded by CEO and OSJ Kurt Jonson in 1998 and provides retirement planning, wealth advisory services, investment planning and insurance solutions to individuals and families, as well as business planning, valuation, benefits and insurance services to small business clients.

“From the outset, Royal Alliance stood out to PCRG as the top firm for super-OSJ groups. Combining Royal Alliance’s unparalleled expertise in serving super-OSJs with Advisor Group’s industry-leading technology, practice management, acquisition financing and hands-on recruiting support through the … Branch Builder program creates an incredibly compelling value proposition for independent groups like PCRG,” according to Jonson.

Royal Alliance has over 3,000 affiliated advisors, while Advisor Group serves about 11,100 financial professionals with more than $450 billion in total client assets.

“Having just concluded our all-virtual annual national conference, ConnectED Canvas — with over 8,000 of our financial professionals in attendance —  the successful recruitment of PCRG underscores both the broad appeal of our network of firms with every segment of the industry, as well as our continued strong momentum,”  said Greg Cornick, president of Advice & Wealth Management at Advisor Group, in a statement.

Jeff Berman

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