Advisers on the Move

$470M retirement-focused RIA joins LPL

The RIA was previously affiliated with Kestra Investment Services

Jun 13, 2017 @ 1:01 pm

By Greg Iacurci

+ Zoom

A hybrid registered investment advisory shop overseeing roughly $470 million in qualified retirement plan assets has affiliated with LPL Financial as its broker-dealer.

The firm, Black Box Pension Advocates, which is located in Solon, OH, was previously affiliated with the broker-dealer Kestra Investment Services.

Black Box Pension Advocates also joined Global Retirement Partners, a registered investment adviser and LPL's largest retirement-plan-focused office of supervisory jurisdiction. Roughly 170 advisers with $46 billion in assets are affiliated with GRP.

Black Box focuses on full-service retirement plan consulting, including plan design, employee engagement and financial wellness, said Thomas Herbuck, owner and retirement plan consultant.

Around 95% of its assets are held in advisory accounts. Aside from Mr. Herbuck, two other individuals (a client service manager and project manager) are part of the practice.

Mr. Herbuck said he felt compelled to make the move in part to align his company with "where the most forward-thinking retirement plan consultants in the industry are."

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Women's retirement needs and the opportunity they present for advisers

Assistant managing editor Lorie Konish speaks with contributing editor Mary Beth Franklin about the unique planning considerations for women as they prepare for income needs later in life.

Latest news & opinion

Sen. Gary Peters brings broker background to work every day on Capitol Hill

Michigan Democrat resists ripping up DOL fiduciary rule but would be open to some changes.

DOL fiduciary rule causing DC-plan record keepers to change business with insurance agents

Principal has communicated that independent agents must change their business models to keep receiving compensation.

DOL fiduciary rule opponents want to push implementation back until 2019

ICI, Chamber of Commerce among groups asking for delay, while Democratic lawmakers call on DOL to keep to its earlier planned schedule of Jan. 1, 2018.

Take 5: Vanguard's new CIO Greg Davis talks bonds, stocks and costs

Having just stepped into the role, this veteran of the firm now oversees $3.8 trillion in assets in more than 300 mutual funds and exchange-traded funds.

Tech companies deploy behavioral finance tools for advisers

They seek to turn knowing more about clients into growing more revenue.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print