Diversify Adds Two Advisory Firms with $400 Million in Assets

Mike Hostick, founder of Live Oak Investment Partners, moved his seven-year-old RIA to the Utah-based platform to reduce administrative overhead and gain access to institutional-quality resources. Hostick cited the firm’s competitive compensation structure and operational flexibility as primary drivers for the transition, noting that the move allows his team to focus on scaling the business without sacrificing their independent approach.

For Leo Rotman, who leads the Boston-based River Financial Group, the shift represents a departure from traditional wirehouse and insurance broker-dealer models. Rotman, whose practice specializes in financial planning for families raising children with disabilities, stated that he required an infrastructure built for independence to support the next phase of his firm’s growth.

Diversify CEO and co-founder Ryan Smith emphasized that the firm has reached the $14 billion mark without relying on outside private equity or institutional capital. By maintaining this independent ownership structure, the company aims to provide advisors with consistent leadership and direct access to decision-makers, framing these additions as long-term partnerships rather than simple corporate acquisitions.