Fueled By A Family’s Love, Adalan Private Wealth Joins Concurrent

Partnership fuels superior, client-first service for $400M breakaway

WASHINGTON & SAN DIEGO--(BUSINESS WIRE)--After 20 years at Morgan Stanley, Anthony David wanted to give his clients superior service, and he wanted to show his three children the value of bold action. Anthony and his team founded Adalan Private Wealth, simultaneously joining with Concurrent and Raymond James.

Named for Anthony’s three children, Adam, Alex, and Anthony Jr., Adalan Private Wealth offers comprehensive financial planning and wealth management services to clients in the Washington D.C. area and beyond. Anthony’s children inspired him to make the leap to independence, embracing uncertainty with the hope of creating a lasting legacy for his family and coworkers.

“I wanted to show my children that it’s not OK to settle,” Anthony said. “I’m looking for the best for my family, but I’m also looking for the best for my clients. Independence was the hardest professional decision in my life, but I am 100% confident it was the right decision.”

Anthony and his team, who managed $400 million in assets, are now free to offer a more complete range of solutions better suited to the individual needs of his clients. And as a fellow entrepreneur, he is excited to connect as peers with the business owners he serves, with a firsthand understanding of the challenges and opportunities they face.

The support of Concurrent and Raymond James was vital to establishing Adalan Private Wealth, Anthony said.

“I have my hands full with a young family and transitioning my clients to our new platform. Raymond James and Concurrent have helped us create a business structure, employee compensation model, and everything else we needed to hit the ground running as a new firm,” he said. “These relationships allowed me to keep my focus on what my clients need to reach their financial goals.”

Concurrent serves as a strategic partner and complementary suite of services for Raymond James advisors, offering institution-grade support to breakaway advisors like Anthony. Since its partnership with Merchant Investment Management earlier this year, Concurrent also offers growth capital to advisors, creating the opportunity for them to participate in their collective success. Concurrent’s advisor affiliates manage $13B+ in assets, using Concurrent’s expertise and an expanding network of partnerships to more than double their clients’ wealth since 2019.

“Anthony has the mindset of a true entrepreneur, and it has been a pleasure to support Adalan Private Wealth and watch them thrive,” said Mike Hlavek, COO and co-founder of Concurrent. “Anthony and his team have an appetite for growth, and they never hesitate to put their clients first.”

“Adalan embodies the strong culture and collaborative framework of Concurrent, and aligns with our goal in acting as strategic partners,” said Rick D’Amico, partner at Merchant Investment Management.

To learn more about Adalan Private Wealth, visit adalanpw.com.

About Concurrent Advisors

Concurrent (concurrentadvisors.com) is an advisor-owned partnership of independent wealth management businesses working together to reshape the possibilities of growth and client service for individual firms.

Headquartered in San Diego, California and Tampa, Florida, Concurrent was founded in 2016 and currently serves 127 advisors in 57 offices with over $13.3 billion in assets under management (AUM) and approximately $12 billion under advisement (as of 12/1/2021). Concurrent draws from the strengths and experience of its advisor affiliates and wields the power of scale to create new opportunities in the independent wealth management space.

Concurrent and its network of advisor teams are not registered broker/dealers or registered investment advisers. Concurrent’s network of financial advisors are registered representatives of Raymond James Financial Services, Inc.

About Raymond James Financial Services

Raymond James Financial Services, Inc. is a financial services firm supporting independent financial advisors nationwide. Since 1974, Raymond James Financial Services Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF) a leading diversified financial services company with approximately 8,400 financial advisors throughout the United States, Canada and overseas. Total client assets are $1.18 trillion. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.