NFP Acquires Divergent Wealth Advisors

NFP Corp. announced it has acquired Divergent Wealth Advisors LLC, based in South Jordan, Utah, which has more than $675 million in assets under management as of August 2023.

Founded by Jordan Collins and Brady Ririe, Divergent is an independent registered investment adviser focused on holistic wealth management solutions and retirement planning. NFP’s acquisition of Divergent closed on August 7.

“We’re thrilled to join NFP and begin contributing to the success of a growing, people-first organization,” Collins and Ririe wrote in a joint statement. “We know our clients have needs beyond wealth management and retirement, and as part of NFP, we have a great opportunity to introduce a breadth of solutions that address these needs.”

Through the acquisition, NFP expands its presence in the Western United States in employee benefits and retirement plan advisory.

“We’re expanding our wealth management and retirement plan capabilities, while increasing our presence in the fast-growing Western U.S.,” Jeff Scott, NFP’s senior vice president of retirement, said in a statement. “We’re also adding a group of talented wealth advisers who are committed to delivering an amazing client experience built on a foundation of trust and fiduciary care.”

In May, NFP elevated Joel Shapiro from senior vice president for ERISA compliance to president of NFP’s retirement advisory division. Doug Hammond, NFP’s chairman and CEO, said in a statement that Shapiro would lead NFP’s retirement division and drive its next phase of growth.

The following month, NFP announced the acquisition, in conjunction with subsidiary Wealthspire Advisors LLC, of Actuarial Consulting Group Inc. and ACG Advisory Services Inc. to add clients and capabilities in wealth management, retirement advisory, plan design and plan administration. Divisions of Richmond, Virginia-based ACG were set to join NFP’s retirement division and its registered investment advisory, Wealthspire Advisors.