Arkadios Capital, an Atlanta independent advisory firm founded in 2016 is looking to grow its presence in Texas and has kicked off that expansion by adding a Frisco-based firm to its team.
Parry Financial Partners, which is led by Jim Parry, has more than $90 million in assets under management and about 400 clients, according to a news release.
Beyond geographic reach, the addition of the Parry team bolsters Arkadios’ real estate platform. Parry Financial Partners focuses on 1031s and Opportunity Zones, working primarily with school owners and CPAs in the real estate firm’s efforts.
Parry told the Dallas Business Journal that both Arkadios’ resources, like access to robust software offerings, and the vision of the firm’s leadership drew him to Arkadios. Parry noted that while 1031s and Opportunity Zones might not be for everyone, they’re a powerful tool to defer taxes for the right situation.
Arkadios is also adding Effective 1031 Planning, a 1031 exchange platform, to its team as well.
The move by Parry Financial Partners follows a bevy of firms and practice groups joining up with Arkadios.
SP Financial Group, a fixed-income team formerly with Raymond James, joined the firm in late 2018. Proximity Financial Partners and KG Wealth Management, formerly with Triad Advisors, joined the Arkadios ranks in March. Independent wealth advisor Foresight Financial Partners moved its assets under advisement to the Atlanta firm in May.
Financial Planning reported in March that Arkadios had already more than tripled its annual revenue in its second year of business.
Arkadios is led by Founder and CEO David Millican, who co-founded ACG Wealth. The firm has more than $3.2 billion in assets under advisement.
