Indianapolis-based Thurston Springer, a hybrid RIA and dealer/seller platform, has signed an settlement to amass PEAK Reps and its subsidiaries, a Jupiter, Fla.-based agency with 120 monetary advisors and about $1.2 billion in belongings underneath advisement.
Particulars of the transaction, anticipated to shut subsequent month, weren’t disclosed.
PEAK Reps is a holding firm for PEAK Brokerage Companies, its impartial b/d; BlackRidge Asset Administration, an RIA; and Prime Advisors Group, an insurance coverage advertising and marketing group. PEAK will function as a separate subsidiary of Thurston Springer, with its three companies remaining registered entities.
“PEAK Reps has constructed a exceptional group centered on offering their advisors with a excessive contact service mannequin, a collaborative advertising and marketing atmosphere and a diversified platform,” Thurston Springer CEO Rick Parker mentioned in a press release. “Their tenacity, ardour and drive resonate with us. Our aim is to help PEAK Reps continued development via enhanced know-how, devoted fixed-income buying and selling, service enlargement and scale.”
Regina Rudnick, who has served as CEO of PEAK Reps for the final two years, has been named co-president and head of advisor expertise for PEAK. Matt Reynolds, president, CFO and associate at Thurston Springer will function co-president.
Late final 12 months, Thurston Springer employed John Peluso as govt vp and associate. Most just lately, Peluso was a senior managing director with Wells Fargo, the place he led two divisions of the agency’s impartial advisor enterprise throughout a 35-year tenure. Peluso has additionally chaired the SIFMA Impartial Companies Committee and served as a board member of the Wealth Advisory Institute.
He is been tasked with supporting the agency’s model and market consciousness, advisor expertise and continued development via recruiting, RIA M&A and minority funding exercise, in keeping with an announcement.
Based in 1981, Thurston Springer offers brokerage providers, tax and enterprise consulting and insurance coverage merchandise via its varied affiliated companies. Monetary Companies Holdings wholly owns it. Thurston Springer has about $10 billion belongings throughout its companies.
