GCG Wealth Management, an affiliated office of Woodbury Financial Services, has added an independent wealth management practice in Charlotte, N.C., Woodbury says.
Brinkley Financial Group, headed by owner and president David Brinkley, oversees $115 million, according to a press release from Woodbury.
Brinkley Financial, which includes Brinkley’s daughter Carrie Brinkley Jones, a financial advisor, will first operate under its own brand but will eventually be “fully merging” with GCG as part of Brinkley’s succession strategy, Woodbury says.
Founded in 1994, GCG now has 31 advisors working out of offices in Charlotte, Wilmington and Greensboro, N.C.; Anderson, Greenville and Charleston, S.C.; Lake Charles, La; and Winter Park, Fla., according to the press release. The addition of Brinkley Financial brings GCG’s assets under management to $1.3 billion, representing a $445 million increase since the beginning of 2019, according to the press release.
GCG offers advisors the ability to join the company as W-2 employees but still affiliate with Woodbury as independent financial advisors, Woodbury says.
Woodbury, meanwhile, lost several advisors to LPL Financial during the past year. A pair of advisors managing $140 million left Woodbury for LPL in January, and a practice overseeing $120 million joined LPL in October.
Woodbury is one of the broker-dealers on Advisor Group’s network, which also includes FSC Securities Corporation, Royal Alliance Associates and SagePoint Financial. Earlier this month, shareholders of Ladenburg Thalmann Financial Services approved the firm’s merger with Advisor Group in a deal valued at around $1.3 billion.