Independent Financial Partners, a Tampa, Florida-based wealth management firm, has merged with Private Wealth Alliance of Ft. Lauderdale, Florida.
Private Wealth Alliance employs 40 investment professionals, who manage over 5,000 clients with more than $500m in assets under management. It has advisors in community and regional banks and credit unions across the US ranging from $200m to $21bn in assets.
The deal gives advisors of IFP access to Private Wealth Alliance’s bank relationships.
Dan Overbey has been named managing director of IFP Institutional Services and Private Wealth Alliance.
Commenting on the deal, Overbey said: "The advisors of Private Wealth Alliance now have access to a multitude of resources from IFP, including direct access to seasoned advisors in wealth management and insurance, to further expand their client offerings."
Independent Financial Partners CEO William Hamm said: "As we look to grow IFP Institutional Services, we will look to build relationships with additional banks throughout the country. This initiative is part of our multi-silo strategy to build up our presence in institutional services, as well as retirement plans, insurance and wealth management."