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

Events

The Fuse impact: The judges weigh in

When vying for top honors at Fuse, it all comes down to a panel of judges. Hear directly from them on what they're looking for in finalists, and what gets them excited about this event every year.

Video Spotlight

Are Your Clients Prepared For Market Downturns?

Sponsored by Prudential

Video Spotlight

Path to growth

Video Spotlight

Path to growth

Latest news & opinion

Top 10 financial firms ranked by investor satisfaction

Find out which firm took the top slot for overall investor satisfaction for the second year in a row.

What not to say to clients when the markets drop

Here's what advisers should steer clear of saying the next time stocks turn downward.

SEC bars former rep for alleged share price manipulation

George Thoreson tried to keep penny stock's price high to enable Nasdaq listing.

Nevada fiduciary law raises concerns among retirement professionals, brokerage industry

Critics complain that it conflicts with ERISA and SEC rules and has potential to spur other states to pass their own version of a fiduciary rule.

A special need for financial advice

Advisers don't have to be experts to help special needs families get a jump on lifelong planning.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print