Woodbury Financial Services has been able to bring on the majority of financial advisors from Questar Capital Corporation and Questar Asset Management Inc., the Allianz Life Insurance Company of North America subsidiaries whose assets Woodbury bought last year, Woodbury says.

Woodbury, an independent broker-dealer on the Advisor Group network, purchased the assets in October for an undisclosed sum when Allianz exited the broker-dealer business.

Of the roughly 600 Allianz representatives, Woodbury has successfully recruited more than 400, according to a press release from Woodbury.

The advisors represent 86% of Questar’s assets under management, Woodbury says. What’s more, they bring Woodbury’s affiliated advisor ranks to 1,600, according to the press release.

Woodbury says Questar’s advisors “consistently referenced the cultural alignment between the two firms as well as Advisor Group’s industry-leading technology, wealth management solutions and advisor growth programs” for their decision to go with Woodbury.

“From the outset of our conversations, they were impressed with the fact that Woodbury’s advisors experienced year-over-year revenue growth in 2018 of 11%, net of market — an impressive result driven by having access to efficient, integrated technology platforms and wealth management solutions designed to support holistic planning,” Rick Fergesen, Woodbury’s president and CEO, says in the press release.

“Our culture and similar regional support model were two factors that further reinforced the decision to transition to our firm.”

The announcement comes on the heels of Woodbury increasing its assets under management by 25% in 2018, the company says.