Partner Wealth Management Firms Move Assets to Arkadios Capital
Previously with Triad Advisors, the firms oversee the management of $180MM in client assets. Though separate companies, they leverage their areas of expertise to further support each other’s respective client needs, with Proximity Financial specializing in wealth management and financial planning and KG Wealth Management focusing on qualified plans and 401(k) retirement plans.
Patrick Simpkins founded Proximity Financial Partners in 2007. He is joined by Senior Advisor Diane Staples. Drew Komlo is the founding partner of KG Wealth Management.
“We are in the relationship business with an investment front. Arkadios is relationship focused and relationship centered, which is why we chose to work with them,” said Simpkins. “All of the other firms we interviewed looked the same, acted the same and seemed to be more focused on the risk management side of things. We all have the same regulatory oversight, we all have the same regulatory responsibilities. Advisors have fewer choices of firms that understand us, and truly want to help us enrich our relationships.
“Arkadios checked all the boxes — advisor-owned, advisor-focused, smaller, flexible, willing to hear what we have to say and help us find solutions that are in our client’s best interest.”
One unique suite of solutions offered by Arkadios of particular interest to Simpkins and Komlo is the fixed-income team, one of the largest in the country serving RIAs. Few independent broker-dealers have a managed bonds/fixed income desk.
“Arkadios brings a personal level of support along with common and practical sense to how they partner with advisors,” said Komlo. “It was important to find a firm that can eliminate much of the busy work that keeps me away from being an advisor so I can focus on what I do best — working with my clients..”
Investment advisor David Millican founded Arkadios in 2016. The Atlanta-based firm has grown to more than $1BB in assets under management. The privately-held independent broker-dealer (IBD) provides tailored solutions to its affiliated independent wealth advisors.
“We are thrilled to partner with Patrick, Drew and Diane, and to help them grow as advisors and to assist them as they help their client achieve their financial goals,” said Millican. “We started this firm with the advisor in mind, and we appreciate that they took their time, talked to several broker-dealers and ultimately chose Arkadios.”