In a deal that could almost double its total revenue, J.W. Cole Financial, a Tampa, Fla., independent broker-dealer,  announced Wednesday that it completed its acquisition of Financial Advisers of America.

J.W. Cole reported $51.5 million in revenue last year, according to Financial Planning's annual FP50 list, which will be released next week. J.W. Cole, which ranked 62nd on the list, expects the acquisition will generate $100 million in revenue this year.

The combined firm has more than 400 advisors nationally and will manage $10 billion in client assets. The move marks an effort by J.W. Cole to expand its national reach and provide its advisors with greater economies of scale through San Diego-based Financial Advisers of America’s access to the Southwest and Hawaiian markets.

“It was one of those opportunities that was too good to be true," said John Carlson, a principal at J.W. Cole, noting the firm would maintain headquarters in both Tampa and San Diego. "With the East Coast -West Coast presence and dual home offices, we’ll be able to serve the entire country now,” “We’re two great companies, but combined we’re sort of a one and one equals three situation.”

The merger was a natural fit, according to Carlson, because the firms were familiar with each another before the deal and embraced similar philosophies in serving clients and advisors.

“The future of our industry is not going to be about size, it is going to be about client experience and making a client feel individually relevant, not just a rounding error,” R.J. Wood, founding principal of J.W. Cole, said in a press release. “The future of our industry is also helping the individual advisor have the same beneficial experience regarding their broker dealer. We want to make sure they feel vital to our partnership, a part of something where success is shared.”

The price of the deal, which was announced in November, was not disclosed.

“The main message is we’re redefining the independent broker dealer space. With most of our competition, the big have gotten bigger,” said Carlson. “And in our view advisors want to be part of something, they want to be known in an organization. Not just a number.”

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