Geneos Wealth Management Continues Successful Legacy as Privately held, Family-operated Financial Services Firm

DENVER, Dec. 9, 2020 /PRNewswire/ -- Denver-based RIA and Broker/Dealer Geneos Wealth Management was established in 2002.  Co-founded by a father and son team, George and Russell Diachok, the firm had a clear vision for steady growth by recruiting highly skilled, independent advisors.  Under Russell Diachok's leadership as Chief Executive Officer, the firm experienced extreme success by growing to more than 280 independent advisors with revenues of $130 million.  Today, after a distinguished career working in the securities brokerage and life insurance industries since 1981, Geneos announces the retirement of Russell Diachok.

Having executed a successful internal buyout, the firm is well positioned to continue its growth strategy with the now re-structured senior management team and reiterate its commitment to its advisors and the industry to remain a privately held company.

Ryan Diachok has taken over the role of Chief Executive Officer after having served as the firm's President since 2014. He will preserve the vision his grandfather and uncle had when they founded Geneos and takes pride in being the third generation to oversee the family-operated company.  Another executive-level change is the promotion of key, long-time employee and major shareholder Jodee Brubaker-Rager.  Jodee assumes the role of President and brings with her a wealth of industry experience and knowledge spanning an already impressive career of more than 30 years. Dean Rager accepted the role of Chief Operating Officer and remains President of Gentech, Axiom Advisory Solutions, and Portfolio Design Advisors. Ray Olson continues as Chief Financial Officer.

"Today marks a truly exciting time for Geneos and our advisors. By executing this agreement, we have created a stable platform to continue to provide world-class service to our advisors for years to come. In an industry that has been overtaken by private equity and M&A activity, this transaction and restructure sends a loud and clear message that we are not for sale," said Ryan Diachok, Geneos CEO. "In addition, I am extremely thrilled with the promotion of Mrs. Brubaker-Rager to the role of President. She has been with Geneos since day one and has been an instrumental part of our success." 

Geneos is committed to remaining an independent firm. GWM Holdings, the holding company for Geneos, is purchasing a portion of Russell Diachok's shares and will retire them, increasing the remaining shareholders value. He will retain stock in the company and hold a seat on the board of directors. 

Future plans to maintain the firm's ownership structure include ongoing purchases of Russell Diachok's shares as well as a formal arrangement for other shareholders seeking liquidity. An annual share buy-back program will be formalized beginning in 2021.

About Geneos Wealth Management
Built from the ground-up by successful advisors and back office experts, Geneos seeks to foster a culture of caring, professionalism, and progressive problem-solving backed by a proven track record of success. Geneos creates an environment where advisors can truly thrive prioritizing concierge services and flexible solutions. Learn more at geneoswealth.com

Contact: Bryon Egge, [email protected], 888-812-5043 ex. 147

SOURCE Geneos Wealth Management

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