FUNDRAISING NEWS | January 09, 2025
Concurrent Investment Advisors, a hybrid RIA based in Tampa, FL, recruited two advisory firms with a combined $364M in client assets in moves that were completed late last year, according to a January 9 report from Citywire.
Columbus, IN-based Engelstad Wealth Advisors is led by Mike and Jodi Engelstad and had been affiliated with Raymond James since 2019. According to their BrokerCheck profiles, the Engelstads were also previously affiliated with Wells Fargo and Edward Jones. While at Raymond James, they reportedly managed $120M in client assets.
Ciliberti & Associates of Plainview, NY, joined Concurrent from Thrivent Advisor Network where they handled $245M in assets under management. Led by Louis Ciliberti, the firm’s staff also include portfolio manager George Crowley, 401(k) specialist Joseph Ciliberti, and practice manager Kathryn Buck Canella.
Engelstad Wealth and Ciliberti & Associates will retain their brand identities upon joining the RIA but will now be included in Concurrent’s Form ADV reports.
Concurrent managing director Joe Mooney told Citywire that this is the first among a number of planned advisor recruitments in 2025, in line with the firm’s goal of continuously expanding its nationwide footprint. Concurrent most recently recruited eight advisors based in Georgia, Texas, and Mississippi, adding a collective $885M in client assets, as reported by Dakota on December 5.
