GenXFinancial, the Nashville, Tennessee-based parent of super office of supervisory jurisdiction Innovative Financial Group, will acquire Boston Partners Financial Group, another large office of supervisory jurisdiction that's affiliated with Royal Alliance Associates. Each OSJ manages about $4.5 billion in client assets.
Upon completion of the transaction, the terms of which were not disclosed, GenX will supervise 180 independent representatives and become the largest super-OSJ affiliated with Royal Alliance, an Advisor Group subsidiary.
Mark Marroni, who has led Boston Partners for more than 20 years, will continue to lead his own ensemble practice affiliated with GenXFinancial following the close of the transaction, and will operate under the Boston Partners Financial Group brand.
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Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
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