Affinity Advisory Network Acquired by Nu Ride | Financial Services M&A Deal

Nu Ride has completed the acquisition of Affinity Advisory Network, a wealth management ria business in New York, for $9.6 million. Nu Ride acquisitions bring Affinity Advisory Network and AAN Wealth Advisors, LLC together under Affinity Advisory Holding Corp to combine insurance distribution with registered investment advisory services. The integrated platform supports a nationwide network of agents and advisors serving clients across more than 700 U.S. cities, with proprietary advisor training, lead generation, and client relationship management tools. This add-on acquisition is part of financial services M&A and NY acquisitions by a strategic buyer, with consideration of $6.72 million in cash, 80,000 shares of Nu Ride Class A stock, and earnout payments up to $1.312 million. Robert Hall retains a 15% ownership stake and continues to lead the wealth management ria acquisition after closing.