Tampa-based Concurrent Investment Advisors, LLC has acquired wealth management company Spire Investment Partners. The deal, which closed Sept. 30, was announced this month.\u00a0<\/p>\n
Concurrent Investment Advisors is a registered investment advisor that operates as a platform for independent wealth managers. The company provides compliance, supervision, operational support, investment due diligence, technology and access to growth capital. \u00a0<\/p>\n
\u201cWe also have a partnership model where we\u2019ll make minority investments in the firms that choose to participate,\u201d Concurrent co-founder and CEO Nate Lenz explained. \u201cSo, we can provide both a platform and partnership to help empower them as entrepreneurs to essentially have the big firm resources but be able to have the independence and autonomy to build the businesses that they want to build.\u201d\u00a0\u00a0<\/p>\n
The purchase of Spire was a strategic, long-term investment. With the acquisition, Concurrent has reached $28.6 billion in assets under management and has extended its advisor footprint to 33 states.\u00a0<\/p>\n
He added that the deal has been in the works since the fourth quarter of 2025. Established in 1997, the McLean, Virginia-based company is also a registered investment advisor.\u00a0<\/p>\n
\u201cSpire was essentially running a model very similar to ours,\u201d Lenz said. \u201cIt was philosophically aligned. They were supporting independent financial advisors. They were operating a platform business model. So, in a lot of ways, it was like looking in the mirror.\u201d\u00a0<\/p>\n
\u201cIn addition to the model being a great fit, we were able to pick up some talented people in the process as well that fit very well into our system,\u201d he explained. \u201cTalent is scarce. That\u2019s something we are always looking for.\u201d<\/p>\n
Concurrent was able to add 30 financial advisory teams to its network as well.\u00a0<\/p>\n
\u201cYou\u2019re seeing, in our space, a continued movement of advisors into the independent space,\u201d Lenz said. \u201cThey want to be not just independent in business model, but truly objective in the advice that they are giving. They want to act as fiduciaries. They want access to every potential solution and tool at their disposal.\u201d\u00a0<\/p>\n
He added that while Concurrent has purchased another company in the past, Spire is the organization\u2019s first acquisition of another platform business at scale.\u00a0<\/p>\n
\u201cOur best opportunity to serve the end client is serving the advisor,\u201d Lenz said. \u201cRight now, that means making meaningful investments in people and technology. We\u2019re investing heavily in our data infrastructure and artificial intelligence capabilities. We\u2019re continuing to add home office team members that can come alongside our advisors and help them expand the scope of services that they can provide to their end clients.\u201d\u00a0<\/p>\n
The ultimate goal, he explained, is to be a \u201chaven for entrepreneurs.\u201d Within the next three years, Concurrent leaders hope to cross $50 billion in assets under management.\u00a0<\/p>\n
\u201cAs we considered various options to continue to grow the firm, we heard loud and clear from our advisors that they wanted the technology and resources to keep driving their growth and relevance to their clients,\u201d said Spire founder and CEO David Blisk in a prepared statement. \u201cThis next chapter gives our advisors additional resources, deeper support, and a broader community without asking them to give up the identity of the practices they have worked so hard to build.\u201d\u00a0<\/p>\n