Sandy-based wealth management firm Diversify Advisor Network has acquired Key Advisors Wealth Management, a Delaware-based fee-only firm with $645 million in assets under management.
Key Advisors was founded by Eddie Ghabour and Doug Ferris in 2000. Ferris retired at the end of 2021, leaving Ghabour as sole owner. Ghabour and his team will now transition to the Diversify Wealth Management Partner Platform and Ghabour will become an equity holder in Diversify and will play an active leadership role in the continued expansion of the organization, a Diversify release said.
“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. “Eddie and his team at Key represent the exact type of practice we envisioned benefiting from this flexibility. Eddie knows our platform well and is a strong advocate for what we created.”
“I am thrilled with this expanded partnership in Diversify and the opportunity to take a seat alongside the other advisor-founders in helping guide the firm into the future,” Ghabour said. “Joining the Partner Platform was the right move for Key, where we will be able to not only retain the autonomy to run our business and serve our clients as we believe best but also take advantage of the synergies and scale that come from being more fully integrated with Diversify.”