LPL has scored seven with one blow against Osaic, as a handful of advisors switch over in Minnesota.
Working across five independent teams, the seven newest advisors to join LPL’s comprehensive broker-dealer, RIA, and custodial services collectively managed approximately $700 million in assets at Osaic.
With a collective wealth of experience spanning 170 years, the new teams are headquartered in the Minneapolis suburb of Maple Grove, where they have shared office space for more than a decade.
They include: Michael Matheson, Susan Anderson, and Marie Henrichs from M² Financial Group; Amy R. Holewa from Holewa Financial; Jeff Schuler from Schuler Financial Advisor Group; Paul Lyon; and Dan Pias.
Matheson, a veteran registered with Finra for 35 years, praised LPL’s “advisor-centric commitment and their continuous investment in technology and business solutions.”
Beyond the firm’s technology, self-clearing capabilities, and back-office support, he highlighted LPL’s practice acquisition and succession programs.
“By partnering with LPL, … we can grow our businesses and set the next generation of advisors up for success,” Matheson said in a statement.
“We welcome Michael, Susan, Marie, Amy, Jeff, Paul, Dan and their teams to the LPL community and are honored to support the continued collaboration and evolution of each of their respective firms,” said Scott Posner, executive vice president of business development at LPL.
The wealth giant’s latest advisor onboarding comes on the heels of its welcoming Brian Pflaum, an ex-Lincoln advisor from Alabama, who most recently handled $345 million in assets with Lincoln Financial Advisors.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
