From the AFS perspective, the attraction of Evolve was its expertise and products in the area of trust services, says Donny Hurwitz, president of AFS.
Hurwitz will remain president of AFS Investment Advisors, but will also have a senior management role on the brokerage side with Evolve that has yet to be determined.
At their core, financial advisers help clients establish plans and strategies for their wealth after they die.
Good trust services make that job easier.
"It's good to put in an estate plan a trust option that's not overly expensive," Hurwitz
"Evolve Trust has a very reasonable price schedule."
was one of the founders who bought the AFS broker/dealer license in 2004 and moved the firm from Denver to Austin.
"Austin is a venture (capital) mecca," he
"There's a lot of folks doing stuff.
Wherever there's money, people try to do deals."
has about a dozen employees in its Austin office and Hurwitz
thinks there will be no jobs cuts because of the acquisition.
The client base of AFS
is all over the board and represents the demographics of AFS' independent agents, he
"Clients are the average customers to large CEOs," he
"It's really a function of the representative.