$750M Financial Advisory Team Leaves Raymond James for Concurrent

Concurrent Investment Advisors has added a newly launched registered investment advisor from Raymond James Financial Services with $750 million in assets under management.

Potomac Financial Group, founded in 1973, is led by managing partner Todd Wike and includes advisors Lanta Evans, Kevin Pinto, Deborah Kelly, Brian Krawiec, Bradley Schell, and Gregory Wilkinson. 

The team, which also includes three support staff members, joined Concurrent on July 6.

As part of Potomac Financial Group’s transition to Concurrent, the firm has made a strategic minority investment in the RIA, Concurrent said. 

The Potomac team offers financial planning, investment management, estate and tax planning, risk management, insurance solutions, and charitable planning, per the firm’s website. 

Additionally, Potomac Financial Group has tapped Fidelity Institutional Wealth Management Services as its custodian. 

“With Potomac, the goal isn’t simply to complete a transition,” Liz Lenz, managing director of Practice Synergies and Enterprise Consulting at Concurrent, said. “It was to help build a stronger enterprise, one designed to support a multigenerational advisor team, enhance the client experience and create enduring value for the business well into the future.” 

Concurrent’s latest addition marks the firm’s second team to join from Raymond James, following its May addition of Houston-based RIA TAVO Wealth, which manages about $1.2 billion in assets under management.

The transaction with TAVO Wealth, which was formerly known as Ahlquist Private Wealth Management, boosted Concurrent’s total client assets to roughly $20 billion. 

Tampa, FL-based Concurrent, which is backed by RIA investor Merchant Investment Management, reports thats it oversees more than $21 billion in assets with more than 30 advisors across the country. 

Pictured: Todd Wike