Diversify Advisor Network has acquired Key Advisors Wealth Management, a Delaware-based fee-only firm with $645 million in assets under management.

Eddie Ghabour, co-founded Key Advisors in 2000 and will become an equity holder in Diversify. In 2022, Key Advisors became part of Diversify under its independent RIA platform, Diversify Advisory Services. Ghabour and his team are transitioning to Diversify Wealth Management, the firm’s partner platform.

“The industry needs to create more aligned partnership solutions for advisors. Part of the design for our Partner Platform was to allow our independent advisors an affiliation model in which they could monetize their practice, plan for clear succession, and take an equity position alongside our founders,” said Ryan Smith, co-founder and CEO of Diversify.

Diversify Wealth Management was launched in January as a W-2 employee-affiliation-model RIA. The Diversify Advisor Network encompasses Diversify Wealth Management, along with Diversify Advisory Services, an independent RIA platform and DFPG Investments, a full-service independent broker-dealer. The network has approximately $7 billion in total assets.

With approximately $7 billion in total assets, Utah-based Diversify Advisor Network recently announced the expansion of its in-house, fee-based asset management platform and investment team. Known over the years for its work in the alternative investment space through its subsidiary, DFPG Investments, the firm said it was broadening its capabilities with its platform build-out, led by David Wrigley, CFA, the firm’s CIO.