Allianz Life is quitting the broker-dealer and RIA business. Woodbury Financial Services announced it was selected by Questar Capital Corporation and Questar Asset Management, Inc. as the preferred affiliation partner for Questar advisors.
Woodbury is part of the Advisor Group network and has experienced record-breaking growth over the past year.
Questar advisors joining Woodbury will have access to industry-leading platforms, featuring completely digital account opening, business and marketing coaching, and sophisticated wealth management solutions.
In addition, they will have access to dedicated field support through Woodbury's Regional Vice Presidents, a model very similar to Questar's.
Since both firms clear through Pershing, Questar advisors will not need to repaper most of their clients' accounts when transitioning to Woodbury – avoiding a major pain point associated with most transitions.
"We are honored that Allianz Life and Questar have selected Woodbury as their preferred affiliation partner for Questar's advisors," Rick Fergesen, president and CEO of Woodbury Financial Services, Inc, said.
"Our firms' cultures are closely aligned and we share a similar regional field support system. Questar advisors will feel at home at Woodbury, and will benefit from our business-friendly technology and product platforms. We couldn't be more pleased to welcome them to our family."
Now, Questar advisors will gain access to State-of-the-art technology, including eQuipt, a completely digital client account opening solution, and Advisor Business Intelligence peer benchmarking and business reporting.
They will also gain access to a sophisticated commission reporting system allowing for detailed reports using filters such as product type, transaction, trends, etc., business continuity, acquisition, and succession planning support, Innovative advisor marketing support, as well as leading wealth management solutions, including Genesis Model Portfolios with minimums as low as $5,500.
In the coming months, Woodbury and Questar will be working together to conduct a seamless transition.
"Questar has produced strong results, and we are pleased to have found a partner in Woodbury that can build on these results by providing reps with an outstanding platform for future growth," said Walter White, president and CEO of Allianz Life.
"The cultural similarities between the two organizations will help smooth the transition, and we are confident that Woodbury will be a great long-term partner for Questar advisors."
"The decision to partner with us is a testament to our focus on both culture and innovation," said Jamie Price, president and CEO of Advisor Group.
"We are committed to putting advisors first, so they have what they need to best serve their clients and their businesses. This is an exciting time of growth for our company and we are honored to have been selected by Allianz Life and Questar management as the best home for their advisors."
