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3 teams with $245M pick Securities America amid IBD turnover

A shakeout among IBDs has prompted three teams managing a combined $245 million to jump to Securities America from Allianz.

The advisors made the switch after Allianz reached a preferred affiliation agreement with Advisor Group for advisors at its independent broker-dealer, Questar Capital, to join Woodbury Financial Services.

IBDs have been fueling the industry's record consolidation in recent years.
Securities America’s newest additions include: Rockledge, Florida-based Miller & Hurt Wealth Advisors, which manages $110 million in assets; Lincoln, Nebraska-based Hill & Associates, which is responsible for $82 million; and Myrtle Beach, South Carolina-based Duprez Financial, which manages $53 million in client assets.

Securities America will help Duprez Financial “drive the long-term success of our firm,” founder Michael Duprez said in a statement. He was affiliated with Questar for 12 years following a four-year tenure with Allianz Securities, according to FINRA BrokerCheck records.

Like Duprez, Richard Miller and Tony Hurt of Miller & Hurt Wealth Advisors both spent 12 years with Questar. They were previously affiliated for two years with Allianz Securities.

Advisor Michael Duprez, center, stands with administrative assistant Michelle Miller, left, and advisor Taber Brown, right.

Stephen Hill, president of Hill & Associates, spent six years with Questar following a 12-year association with Woodbury, according to FINRA BrokerCheck records.
After Allianz and Advisor Group announced the Questar-Woodbury deal in October, more than 400 of the roughly 600 advisors chose to join Woodbury.

A few other practices opted to forgo the preferred affiliation arrangement and found new IBDs. And in March, 11 Questar-affiliated advisors also chose to join Securities America instead of Woodbury Financial.

A representative of Advisor Group said that the firm successfully transitioned to Woodbury more than 400 Questar advisors managing 86% of that firm’s assets under management. “We wish the minority of advisors who were not part of this transition all the best,” spokesperson Mitch Manning said in a statement.

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