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Woodbury Adds 64% of Questar Reps, 86% of AUM

00:07 06 March in In the News by rafferty

March 5, 2019 By Janet Levaux, ThinkAdvisor But could the growth of the IBD and its sister firms prompt the private equity owner to consider a sale? Five months after it struck a recruiting deal with Allianz Life Insurance, Woodbury Financial Services says it has added 407 advisors — about 64% of advisors with Questar Capital and Questar Asset Management — with 86% of the advisors’ total assets under management, $1.8 billion, and 83% of assets under administration, $12.2 billion. The IBD says it added another 165 advisors (from NPC and the closing of its Capital One acquisition) and $9.8 billion in AUA over the past 18 months, giving it a total of about 1,600 advisors, $11 billion under management and $45 billion under administration. But could this growth pattern prompt a change of strategy...

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With Questar-Woodbury Deal, What’s Next for Insurance-Owned BDs?

22:11 12 October in In the News by rafferty

October 12, 2018 By Janet Levaux, ThinkAdvisor As Allianz Life Insurance moves to get out of the advisory business, it has struck a deal with Advisor Group-owned independent broker-dealer Woodbury Financial Services, which will get “preferred” treatment in recruiting 640 registered reps with Questar Capital. Woodbury has about 1,200 advisors and is based in Oakdale, Minnesota. The other Advisor Group IBDs are FSC Securities Corp., Royal Alliance Associates and SagePoint Financial. News of the Woodbury deal came as no surprise to some industry insiders. This summer, Royal Alliance said it was acquiring Signator Investors from John Hancock — a transaction that could double its size to as many as 3,600 financial advisors and other professionals. And a year ago this month, LPL Financial announcing its acquisition of four broker-dealers owned by Jackson National Life affiliate National Planning...