Dealer Geneos acquires asset-management platform

FWR Staff

27 February 2009

Boutique firm says buy sharpens its appeal to high-end financial planners. Broker-dealer Geneos Wealth Management has acquired Portfolio Design Advisors, sponsor of Select One, a fee-based investing program that draws on asset allocation, strategic timing, and sector rotation to build and manage portfolio models.

Productive

The acquisition "represents is a logical extension of our long-term business strategy, which is to be the preferred destination of elite investment advisors," says Geneos' president and CEO Russ Diachok."The firm's specialized knowledge of portfolio construction and oversight is a perfect fit for our top-shelf representatives."

Centennial, Colo.-based Geneos describes itself as a "boutique" broker-dealer that has been "diligent and selective in choosing the advisors that affiliate with the firm." The firm has about 260 advisors with a total of $7 billion in assets under management -- which makes them more than twice as productive as the average wirehouse broker.

Seal Beach, Calif.-based Select One's lead portfolio manager Phil Kelley says he's been impressed with the "broad market knowledge" of Geneos advisors. "Together Geneos and Select One will be a powerful combination in delivering successful investment solutions to individual investors."

Terms of the deal weren't disclosed.

Select One has approximately $150 million assets under management. -FWR

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