Fusion Advisor Network reported Thursday that the firm's assets under management (AUM) and revenues have grown to a "record level" for 2010. The firm cites "strong organic growth among existing firms, strong retention record and the addition of several key new independent advisors to its network," for its success. Revenue for advisors affiliated with Fusion is $57.4 million for 2010; AUM is now "over $2.7 billion" along with "over $8.0 billion," in assets under advisement.
Fusion's "member" firms are independent registered investment advisors (RIAs) and broker-dealers (BDs). They have a not-so-secret weapon advising them on practice and business management: Fusion's President is a former Moss Adams principal, Philip Palaveev (left). Readers will recognize Palaveev as a frequent contributor to AdvisorOne.com, and our partner in the Top Wealth Managers surveys and special reports.
Fusion provides "business management services" to its affiliated member firms and uses NFP Securities Inc. to provide RIA and BD services for member firms.
