LOS ANGELES, Sept. 24, 2019 /PRNewswire/ — NWF Advisory Group, an independent financial advisor group affiliated with Royal Alliance Associates with approximately $3.6 billion in total client assets, today announced that it has successfully facilitated the succession planning-driven acquisition by two of its affiliated independent advisors of The Retirement Educators, a financial advisory practice that has $75 million in total client assets and specializes in retirement planning for teachers and other educators. The transaction enables The Retirement Educators’ founder, Randall Zacuto, to implement his plan to transition into retirement while simultaneously positioning the acquiring advisors to drive ongoing growth for the combined practice.
Royal Alliance is part of Advisor Group, one of the nation’s largest networks of independent wealth management firms, which also includes FSC Securities Corporation, SagePoint Financial and Woodbury Financial. NWF Advisory Group is among the largest independent financial advisor groups affiliated with Royal Alliance.
With locations in the San Diego area and Las Vegas, The Retirement Educators has been affiliated with Royal Alliance since 2002 and provides 403(b) retirement plan advice, estate planning, insurance and tax management services to clients.
Mr. Zacuto’s practice was acquired by independent advisors Kevin Ryan and Derrigan Sheedy, who receive compliance oversight services from NWF Advisory Group, in addition to an extensive array of operational and marketing support. Prior to the acquisition, Messrs. Ryan and Sheedy had roughly $275 million in client assets and, like Mr. Zacuto, did a substantial amount of 403(b) plan advisory work with teachers and other educators.
Shehab Mohammad, President and CEO of NWF Advisory Group, said, “NWF Advisory Group was very pleased to demonstrate our broad value proposition for advisors by successfully facilitating the succession-planning driven acquisition of The Retirement Educators by Kevin Ryan and Derrigan Sheedy. Randy Zacuto felt a natural fit with Kevin and Derrigan based on their 403(b) expertise and client service approach, and NWF was happy to leverage its extensive experience with acquisitions, practice management and succession planning to facilitate a transaction that we believe is a true win-win for all parties: for Randy; for Kevin and Derrigan; and – most importantly – for the clients of the combined practice.”
For Mr. Zacuto, the ability to play a transitional role in running his practice and serving his clients as he moves into retirement was a key driver in his decision to join with Messrs. Ryan and Sheedy. This, along with the fact that both The Retirement Educators and the acquirors’ practice are already affiliated with Royal Alliance, assured him that there would be a seamless transition for his clients.
Mr. Zacuto said, “From our initial informal discussions, I was immediately comfortable with Kevin and Derrigan and confident that they would be able to provide great service to my clients. As independent financial advisors, everything starts with the relationships of trust we build with our clients, and I was excited to know that these two excellent business partners felt the same way.”
Mr. Ryan said, “We were impressed with the business that Randy has built up through his decades of hard work, and we see a significant opportunity in working with him to provide continued exceptional service to his clients, both now and in the years ahead. We could not have hoped for a better advisor to partner with, and we look forward to benefitting from his guidance and insight. We are also very grateful to NWF Advisory Group for the key role they played in making this transaction successful. It could not have happened without NWF’s close involvement and the resources and support of Royal Alliance.”
Dmitry Goldin, President and CEO of Royal Alliance, said, “Congratulations to NWF Advisory Group for facilitating a great transaction that positions Kevin Ryan and Derrigan Sheedy for continued growth while meeting the succession-planning needs of a quality advisor, Randy Zacuto. Independent financial advisor groups are a huge part of Royal Alliance’s success, and we are committed to continuing to leverage our institutional knowledge, resources and scale to help our advisors realize their growth goals.”
Jamie Price, President and CEO of Advisor Group, said, “It’s our mission to support advisors through all phases of the business life cycle. In this case, we were able to help one advisor nearing retirement join with a pair of advisors who were seeking to aggressively grow their practice. It’s a great win for us to see all of them be successful, and we look forward to seeing all that NWF and the acquirors’ practice will achieve going forward.”
About NWF Advisory Group
NWF Advisory Group, Inc. is a wealth management firm headquartered in Los Angeles, Calif., with satellite offices statewide. It was founded in 1969 by a group of experienced financial planners. We are fortunate enough to be part of a large and significant network consisting of a vast array of professional resources, tools and products to choose from, but also to be independent enough to be able to give the proper time and attention to provide clients with the individualized personal care, dedication and financial strategies we feel are best suited for them. Securities and advisory services offered through Royal Alliance Associates, member FINRA/SIPC. Advisory services offered through NWF Advisory Services, Inc., which is not affiliated with Royal Alliance Associates, Inc.
About Royal Alliance Associates
Royal Alliance Associates, Inc. is part of one of the nation’s largest independent financial advisor networks and a Registered Investment Advisor, member FINRA and SIPC. Royal Alliance is supported by Advisor Group, one of the largest truly independent broker-dealer networks in the industry. The firm has more than 3,600 affiliated independent financial advisors and is headquartered in Jersey City. Royal Alliance was founded in 1969 and employs a client driven approach focused on meeting the unique demands of businesses and individuals. For more information visit http://www.royalalliance.com.
About Advisor Group
Advisor Group, Inc. is one of the nation’s largest networks of independent financial advisors serving over 7,000 advisors and overseeing $268 billion in total 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. For more information visit https://www.advisorgroup.com.
SOURCE NWF Advisory Group