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Advisor Group and Woodbury Financial mark two-year anniversary of Capital One advisory unit acquisition


Advisor Group, a US network of independent wealth management firms, and network member firm Woodbury Financial Services, have marked the two-year anniversary of Woodbury’s acquisition of Capital One Investing’s investment management and brokerage division. As part of this announcement, Advisor Group and Woodbury commended the former Capital One financial professionals on their strong and consistent growth since joining Woodbury.

Since the transaction closed in July 2018, the financial professionals who joined from Capital One have seamlessly converted from being bank employees to independent business owners, while successfully recruiting 27 additional professionals to their practices and significantly raising their collective client assets by approximately USD1.1 billion, to a total of nearly USD5.7 billion today. The group, now re-branded as the Capstone Group, has an average age of 43, and is home to six of Woodbury’s top 10 producing professionals under age 40.
In addition to Woodbury Financial Services, Advisor Group also includes FSC Securities, KMS Financial Services, Royal Alliance Associates, SagePoint Financial, Securities America, Securities Service Network and Triad Advisors.
Rick Fergesen, President and CEO of Woodbury Financial Services, says: “The exceptional financial professionals who joined us from Capital One in 2018 actually made two transitions – one to Woodbury, and one into the independent channel. These financial professionals represent a model blueprint for how Woodbury and Advisor Group can support seamless transitions of large teams of professionals and drive accelerated business growth for them in the immediate. We’re pleased with the strength of our transition services platform, and more importantly, we’re proud of the incredible hard work, dedication and focus these financial professionals have shown in effectively re-inventing themselves as independent business owners. Two years later, they have continued to super-charge their growth, and have emerged as some of Woodbury’s leading young financial professionals.”
The former Capital One professionals had been W-2 employees providing investment management services to Capital One Bank customers through that firm’s branches across eight states. Each professional became an independent contractor with his or her own practice after joining Woodbury.
The Capstone Group professionals formed a strong common culture through recurring study groups and ongoing contact to share best practices prior to joining Woodbury, despite being located in different geographies. The group benefitted greatly from the expanded growth resources provided by Woodbury and Advisor Group both during and after their move, including extensive transition support; Advisor Group’s turnkey automated marketing and client communications platform, MyCMO; its strong technology platform and asset management offerings; and its expert practice management resources.
Jeffery Sills, Senior Vice President of Business and Field Development for Advisor Group and leader of the Capstone Group, says: “The continued growth of the Capstone Group’s financial professionals two years after joining us underscores the strength of Woodbury and Advisor Group’s offerings and expertise, as well as the dedication of these professionals. We were very pleased to support the group through offerings like MyCMO, which provided pre-approved, authentic client communications to help the Capstone team maintain frequent, personalised touch-points with their large client bases both during the transition and in the years since. Looking ahead, we are excited to continue to support their ongoing growth.”
Jamie Price, CEO and President of Advisor Group, says: “The financial professionals of the Capstone Group are a talented, hardworking and focused community of emerging leaders who have consistently outperformed our expectations since they joined Woodbury and Advisor Group. We have been proud to stand in their corner with sophisticated growth resources and tools, not only to help them with the transition to Woodbury, but to help them master the nuances of the independent channel. From recruiting additional advisors, to building their businesses with increased wallet share and referral capture, we congratulate these financial professionals on all they have achieved, and we look forward to all that they will continue to accomplish in the years ahead.”

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