Private Advisor Group, the Morristown, N.J.-based registered investment advisor and supervisory jurisdiction office affiliated with LPL Financial, has recruited Ethan Campbell, owner and wealth advisor at Stones River Wealth Management in Woodbury, Tenn., from RFG Advisory . Campbell was with RFG for about three years.
He and his team, which also includes wealth advisor Collin Reed and office administrator Alana Hale, oversee $90 million in client assets. The practice will join EPM Financial, another Private Advisor Group affiliate with approximately $500 million in AUM, while retaining the Stones River brand.
Campbell said he chose to transfer to PAG for its multi-care offering, technology package and competitive economics.
PAG was co-founded in 1997 by John Hyland and Pat Sullivan as Morristown Financial Group. In 2020, the duo brought Robert “RJ” Moore, former head of LPL and Cetera, to run the company and set strategic direction. In October 2022, the firm announced that President Frank Smith would take over as president and CEO in January 2023 as part of a transition planned by Moore. Moore remains a shareholder and executive chairman of the firm, along with Sullivan.
Under Moore's leadership, the firm received its first outside investor, me Commercial Investment Management taking a non-controlling minority stake to RIA in late 2021. Merchant's investment helped the firm launch its equity program. It is an elective program where an advisor agrees to contribute a portion of their income, usually between 10% and 20%, in exchange for cash and equity in the firm.
Earlier this year, PAG moved its Morristown, NJ headquarters to a larger space and opened a new office in Rock Hill, SC, where Smith is based. The firm has more than doubled its staff since 2021, primarily in advisory roles.
The firm now has over $31.5 billion in assets under management.