Silver Oak Lures $155M Michigan Team from Cetera

Hybrid RIA Silver Oak Securities announced it has further strengthened its Midwest footprint with the addition of Pathway Financial Design, a Michigan-based advisor managing $155M in client assets.

Pathway served approximately 2,000 clients out of offices in Grand Rapids, Holland, and Traverse City. The team of 13 is led by co-founders Joel Broersma and Dan Korhorn who boast more than a half century of combined experience in the industry.

In a news release announcing the move, Pathway indicated that the decision to join Silver Oak “was catalyzed by multiple acquisitions of Pathway’s former broker-dealer.” According to Broersma and Korhorn’s BrokerCheck profiles, they were affiliated with HBW Advisory Services and its broker-dealer HBW Securities, which in 2017 wound down its broker-dealer function as part of a move for HBW to affiliate with Cetera Advisor Networks. Both began their careers in the 1990s at PFS Investments before briefly moving to American General Securities ahead of a longtime affiliation with HBW that began in 2006.

Source: https://www.businesswire.com/news/home/20241204083638/en/