Diversify Adds $450M Ex-Ameriprise Firm, Crosses $10B in Total Assets

Diversify Advisor Network, a wealth management platform founded and led by advisers, announced that Inventa Wealth Advisors has joined its independent platform. Inventa, a $450 million practice, makes the move from Ameriprise.

Headquartered in Salt Lake City, the Inventa team is comprised of industry veterans Travis Kell, Jason Collier, Steve Tate, Steve Williams, Chalise Westenskow, and Blair Perry.

“We are honored to have the Inventa team join the Diversify family,” said Ryan Smith, chief executive officer of Diversify. “This is a very experienced team of advisers, and we look forward to partnering with them in the next chapter of their business.”

In a period of significant merger and acquisition activity within the financial industry, advisers are actively seeking stability and clear direction. Collier of Inventa commented: “We have built a great business, and don’t want to be just a statistic or bystander. We need resources and support, but we want to be heard and Diversify was the right choice for our firm’s growth.”

Smith added: “We have been sounding the alarm for years. This incessant rollup activity may be great for valuations, but advisers are tired of being the leverage, and not the priority, in these transactions. We are taking a different approach.”

Last summer, Diversify recruited the seven-adviser team from Perspective Financial Services, a Phoenix-based firm with $290 million in assets under management which joined Diversify Wealth Management, Diversify’s W-2 affiliation model registered investment adviser.

With the addition of Inventa, Diversify now oversees approximately $10 billion in assets through its multi-affiliation model. Diversify Advisory Services offers a 1099 independent RIA affiliation platform.

Additionally, DFPG Investments provides integrated, full-service broker-dealer capabilities. Diversify’s structure aims to enable advisers to scale their businesses, plan for succession, and even pursue equity ownership as their practices evolve.

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