Private Advisor Group Welcomes $100M Drake Financial Services
Private Advisor Group, a $28.5 billion independent wealth management firm based in Morristown, NJ, announced that $100 million Troy, MI-based Drake Financial Services has joined its community of advisors.
Drake Financial Services is led by Robert K. Drake. Drake has been providing comprehensive asset management solutions to clients for almost 30 years, having inherited his father’s business.
The company’s primary concept is the financial advocate approach, which helps clients make sense of difficult financial issues and implements wealth-building strategies.
“As the wealth management industry continues to evolve, we provide independent advisors with the best-in-class solutions and technology they need to stay one step ahead,” said Verne Marble, director of business development at Private Advisor Group.
Private Advisor Group’s alignment and equity program, succession solutions, advisors, technology, and service offerings were all factors in Drake Financial Services’ decision to partner with the firm.
In June 2023, Private Advisor Group announced that WP Financial, an affiliate in West Hartford, CT, acquired Sage Financial Design, a $95 million financial planning firm.