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

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

Featured video

Events

The importance of a diverse team

Clients, advisers, and even communities are telling firms that yes, diversity within the advisory community is important.

Latest news & opinion

Joe Duran has a game plan, and anyone can play

The CEO of United Capital built a formula for holistic financial planning that any firm can tap into — for a price.

LPL video about private equity looks like a swipe at Cetera

Recruiting video warns about potential consequences for advisers when a PE firm buys a broker-dealer.

Ladenburg chairman Phillip Frost steps down

The SEC charged Frost with fraud earlier this month.

Envestnet Tamarac partners with Schwab, TD on digital account openings

Auto-filling documents designed to make onboarding more efficient for RIAs and more convenient for clients.

Wells Fargo plans to cut staff up to 10% within next three years

Bank is struggling to cut spending amid regulatory fines and higher legal costs stemming from scandals.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print