KBK Wealth Management plans to increase its assets under management over 150% in the next 18 months by recruiting midtier brokers.

Alan Brachfeld, the New York investment manager's chief executive, said in an interview last week that he plans to add three advisers quarterly from this quarter through the summer of next year. He expects each adviser to bring a book of business with $20 million to $120 million of assets under management, and he said his company, which currently has $400 million, will be able to pass the $1 billion mark by next summer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.