Advisor Group announced on Thursday its plans to acquire Infinex Financial Holdings, a broker/dealer that currently supports more than 230 banks and credit unions across the United States. The acquisition is expected to close in the second quarter of 2021, pending regulatory approval.
With Infinex, Advisor Group will gain 750 financial advisers who control more than $30 billion in client assets. This will significantly boost Advisor Group's presence within banks and credit unions, which are important channels for financial advisers.
Infinex Investments Inc. was founded in 1993 and is headquartered in Meriden, Connecticut. It provides investment and insurance solutions to financial institutions, including banks and credit unions, through a network of independent financial advisers.