Advisor Group’s Management Platform (WMP) reported an inflow of more than $1 billion in net new assets (NNA), representing Advisor Group’s strongest-ever month for growth on its WMP and the first time monthly NNA has exceeded the $1 billion threshold. Female financial professionals contributed proportionately to this increase and were responsible for nearly 20 percent of the record growth.
In addition to surpassing the $1 billion mark in NNA last month, the platform added at least $4.8 billion in NNA through May of this year, compared with about $1.4 billion for the same period in 2020. NNA encompasses accounts of existing clients that are moved to WMP, as well as assets added through recruitment of new financial professionals and M&A activity, net of attrition.
The NNA figures include asset growth at FSC Securities, Royal Alliance, SagePoint and Woodbury, the four firms that made up the Advisor Group network prior to its acquisition of Ladenburg Thalmann Finan