Jim Ruta, president of Advisorcraft Media and Consulting, has reached an agreement to merge his advisor coaching and consulting business with Toronto-based coaching firm The Covenant Group, the companies announced on Wednesday.
Effective May 1, 2018, Ruta will become executive vice president of The Covenant Group, which Norm Trainor, the firm’s president and CEO, founded in 1995. The company focuses on educating and coaching entrepreneurs, executives and their staff.
Ruta has been offering advisor coaching through Advisorcraft for almost 20 years following a career as an advisor and insurance agency executive.
As Trainor and Ruta were offering similar services and working toward parallel objectives, it made sense to join forces, Ruta says, adding that he sees a growing need for coaching in the financial services business.
“The industry seems to need training and development more than ever,” Ruta says. “Coaching — and experienced coaching — is needed so that we can preserve the advisor business.”
Following the merger’s completion, Advisorcraft clients will be transferred to The Covenant Group.