TAVO Wealth Leaves Raymond James With $1.2 Billion, Launches on Concurrent Platform
Updated
Updated · Wealth Management · May 12
TAVO Wealth Leaves Raymond James With $1.2 Billion, Launches on Concurrent Platform
2 articles · Updated · Wealth Management · May 12
$1.2 billion in client assets moved as the Houston team launched TAVO Wealth on Concurrent’s platform, with Fidelity serving as custodian.
The break from Raymond James’ employee model lets TAVO own and run its business, including custodial choices, while Concurrent takes only a minority stake.
Concurrent said the addition lifts its assets under management and administration above $20 billion and underscores demand for its 1099 affiliation model.
Seven RIAs have already taken minority capital from Concurrent since that program began last year, as the firm pitches technology, integration and future AI tools to entrepreneurial advisors.
TAVO Wealth gained freedom, but what compliance nightmares await new firms under the SEC's watchful eye?
Are hybrid platforms like Concurrent the future, or just a new version of the old brokerage model?
With advisors flocking to independence, can giants like Raymond James stop the billion-dollar exodus?