Diversify Expands Its Wealth Management Platform with New Advisor Additions

Diversify, a prominent wealth management platform founded by advisors, has recently made headlines by welcoming two new advisory teams, Live Oak Investment Partners and River Financial Group. This strategic addition represents a collective management of nearly $400 million in client assets, amplifying Diversify's total assets to over $14 billion while reinforcing its standing in the wealth management industry.

Live Oak Investment Partners is based in Austin, Texas, under the leadership of Mike Hostick. The firm was previously an RIA for seven years before opting to join Diversify. Hostick expressed confidence in the decision, emphasizing the significant advantages Diversify offers, including a competitive compensation structure and essential tools for business expansion. He noted, "The entire Diversify team has made us feel like family, and we couldn't be more excited about what lies ahead."

In a similar vein, River Financial Group, founded by Leo Rotman and located in Boston, has transitioned to Diversify from a traditional broker-dealer model. Rotman brings over two decades of experience, particularly in assisting families with disabled children. He highlighted the importance of having a platform that supports independence, stating, "Diversify gives me the flexibility and infrastructure to launch the next stage of River's growth while ensuring we serve these families effectively."

The move to Diversify is indicative of a larger trend among advisors who are leaving conventional wirehouse models. Diversify has consistently emerged as a preferred partner due to its commitment to advisor independence, offering a nurturing culture that facilitates long-term growth and sustainable success.

Ryan Smith, CEO and Co-Founder of Diversify, echoed these sentiments, emphasizing the firm’s approach to building relationships that transcend mere transactions. "Mike and Leo have built great businesses, and we're proud they've chosen Diversify to support the next chapter of that growth. These are some of the most vital decisions advisors will make in their careers, and we treat them with the care and respect they deserve."

The integration of these advisory teams into Diversify's platform marks a meaningful milestone for all parties involved, showcasing Diversify's appeal as a reliable and transformative partner in the wealth management space. The firm prides itself on providing an institutional-level service while maintaining a personalized approach for its advisors and their clients.

Founded as an advisor-led enterprise, Diversify now operates through Diversify Advisory Services, LLC, and Diversify Wealth Management, LLC, both of which are registered with the SEC as investment advisors. The addition of Live Oak and River Financial further strengthens the platform’s extensive resource base, aimed at empowering advisors to achieve greater success and serve their clients more effectively.

In conclusion, as Diversify continues to grow its assets without external institutional capital, the commitment to uphold a family-like atmosphere among advisors remains central to its strategy. The recent additions exemplify the firm's ethos and its ongoing journey toward redefining the wealth management industry—one advisor at a time.