Concurrent Investment Advisors, LLC (“Concurrent”), an integrated registered investment adviser platform, announced its partnership with Proxima Wealth Partners LLC (“Proxima”), an independent advisory firm founded by former Raymond James executives Chris Davitt and Anupam Singh.
Based in Tampa, Florida, Proxima will focus on recruiting top-tier teams looking to enhance enterprise value by adding new households and net new assets, increasing advisor headcount through recruiting, and M&A activity. All advisors who join Proxima will be given the opportunity to own an equity stake in the new firm, creating a true partnership through a joint ownership structure and bound by a common mission and shared values.
Davitt, who has a longstanding reputation as both a highly regarded recruiter and sales management executive, will spend his time recruiting new teams to the platform and helping them increase enterprise value through both organic and inorganic growth strategies. Singh will focus on assisting with high-impact operational, technology, financial, and risk management initiatives. The two executives will serve as outsourced Chief Growth Officer and Chief Operating Officer for Proxima’s partner firms.
Concurrent will provide the institutional platform, infrastructure, and support to power Proxima, including enterprise technology, an investment and asset management platform, and risk management. With Concurrent as a partner, Proxima will access strategic capital to fund advisor transitions, acquisitions, and equity monetization. This partnership gives Proxima the independence and boutique culture of a founder-led firm with access to the capital, resources, and infrastructure of a national RIA platform.
“I have known Nate for a long time, and have tremendous admiration for what he and the Concurrent team have built,” said Davitt. “We share Concurrent’s commitment to advisor independence and value its use of long-term capital to help advisors grow and monetize their life’s work. I’m excited to help build on the strong momentum already underway at Concurrent.”
Most recently, Davitt was the Regional Director for one of the Private Client Group’s largest regions and led the firm’s employee branches in Arkansas, Louisiana, Texas, Oklahoma and Colorado. Prior to that, he led Raymond James’ independent employee model, Advisor Select, during a period of significant growth and development. He also served on various high-profile firm committees, including Capital Markets Committee and the Executive Council and was a member of a number of working groups focused on strategy, advisor recruiting, compensation, and client pricing.
Singh previously served as Vice President of Platform Strategy & Operations in the Asset Management Services department at Raymond James, leading the modernization of the firm’s fee-based investment platform, including development of the custom UMA offering and firm-wide strategic initiatives for the Private Client Group, Asset Management, and Technology departments.
“Many advisors who choose independence underestimate the burden of running and operating a small business. These functions include building the critical infrastructure for investment and asset management, tech stack, HR, accounting, and compliance, to name a few,” said Singh. “Proxima helps minimize this burden so advisors can spend more time with their clients and drive meaningful value in their businesses.”
“Davitt and Singh have significant senior-level wealth and asset management experience with a proven track record of leading impressive growth,” said Nate Lenz, CEO of Concurrent. “They could have gone anywhere, and they chose to build their own firm on our chassis, which is precisely what this platform was designed to do: give proven leaders the capital, technology and infrastructure to launch enterprises of their own rather than start from scratch.”
“The most compelling firms in this industry are being started by people who have already run one,” said Joe Mooney, Managing Director and Head of Business Development at Concurrent. “Chris and Anupam know what advisors need because they spent years delivering it at scale. We are proud to have Proxima building on Concurrent.”
About Concurrent
Concurrent Investment Advisors is an integrated independent registered investment adviser (RIA) platform providing the capital, consulting services, and operational support advisors need to build and grow thriving wealth management businesses. Headquartered in Tampa, Florida, Concurrent partners with independent-minded financial professionals, delivering a full suite of practice management resources, access to an investment platform, comprehensive retirement solutions and innovative, AI-driven technology designed to help advisor entrepreneurs scale efficiently while enhancing the client experience.
Independence, collaboration, and client-first service define Concurrent’s model, enabling advisors to scale as entrepreneurs through flexible models, including minority investments and platform support. Concurrent is backed by Merchant Investment Management.
Learn more at www.poweredbyconcurrent.com.
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