Family-led $200M advisory team joins LPL from Kestra Financial

The father-and-sons team at New Jersey-based Sopher Financial Group’s value LPL as a ‘top of the tech curve’ wealth management firm

LPL Financial has added a multigenerational family team to the extensive network of firms using its broker-dealer, RIA and custodial platforms.

Based in Metuchen, New Jersey, Sopher Financial Group joins the network from Kestra Financial and is led by managing director Daniel Sopher, who has more than 30 years of experience in the financial services industry.

“As a family business, we take our roles personally. We consider our clients family, which is why we foster long-term relationships founded on transparency,” Sopher said.

His team — reported to have served approximately $200 million in advisory, brokerage and retirement plan assets at year-end 2022 — includes his two sons, Bobby Sopher, who is director of financial planning and lead advisor, and Matthew Sopher, who is client services director, plus their longtime office manager Judi Diamond.

LPL Financial has seen several high-value advisory firms switch to its network in recent months, including a quartet of Edward Jones financial advisors based in southern Wisconsin who have launched their own independent office.

FAMILY LEGACY

Deciding to change to LPL’s platforms from Kestra followed careful assessment of the current investment landscape and the innovative solutions that are available to serve today’s clients — and it’s something Dan Sopher doesn’t take lightly as he looks to grow the business.

“It’s my legacy, and I want to continue that with my sons,” he said. “Where I see the business heading in the future, as my sons work on integrating new technologies in our practice to help further serve clients, it was crucial for us to be with a partner that’s going to be on top of the tech curve.”

In welcoming the father and sons team to the network, Scott Posner, LPL Financial’s executive vice president of business development, explained how the firm supports the thousands of advisors it works with.

“As a partner with scale, we are committed to supporting our advisors’ ability to meet their clients’ expectations for differentiated service experiences and access to sophisticated wealth management solutions,” he said. “We also deliver robust resources and business solutions to help independent business owners operate efficiently and build a business with value.”