Concurrent Snares $1.3B Team From Raymond James

Core Insights - Concurrent Investment Advisors has acquired a $1.3 billion wealth management team from Raymond James, enhancing its market position [1][2] - The acquisition increases Concurrent's assets under management to over $15 billion, alongside approximately $16 billion under advisement [3] Company Developments - Founding partners Bill Keaton and Alfred Sams, previously with Raymond James since 2017, will transition to Concurrent's 1099 affiliation platform [2] - Concurrent has taken a minority stake in the newly formed Keaton and Sams Wealth Management, with Goldman Sachs serving as the custodian [2] Industry Context - Raymond James reported a record advisor headcount for the fiscal year ending in September and acknowledged a strong recruiting pipeline, despite anticipating attrition in the upcoming quarter [4] - The competitive environment for advisor teams is highlighted, with ongoing rich deals available from roll-ups and aggregators, indicating a dynamic M&A landscape [5]