LPL is expanding its network significantly in the Northeast as it welcomes more than two dozen advisors from Osaic.
The firm announced Tuesday that more than 30 financial advisors from Academy Financial and PFG Advisors have transitioned to its broker-dealer, RIA, and custodial platforms.
The two firms, which collectively managed approximately $4 billion in client assets, previously operated under Lincoln Financial's wealth arm, now part of Osaic.
Academy Financial, based in Lutherville, Maryland, was founded in 1992 by Harry Horn. The firm emphasizes client-centric financial planning and is known for its commitment to integrity and service.
Over the years, Academy has evolved into a multidisciplinary practice specializing in wealth creation and preservation strategies. It is now led by partners Brent Kvech, T. Joseph Barger, Michael Leonard, and Michael McFeeley, while Horn remains involved as a consultant and partner emeritus.
Meanwhile, PFG Advisors, headquartered in Berwyn, Pennsylvania, is led by Tyler McCraw and Steve Morris. The firm focuses on comprehensive financial planning with expertise in business succession planning, estate planning, and corporate retirement strategies.
Following the transition, the firms will merge and operate under the Academy Financial brand, uniting their shared focus on helping families, executives, and business owners manage and preserve wealth.
“We’re honored to have PFG Advisors join us as we continue to grow our firm and build meaningful relationships with clients,” Kvech said in a statement Wednesday. “The PFG team shares our serve-first approach, and we look forward to collaborating on behalf of clients for the sole purpose of helping them work toward their financial goals.”
The decision to join LPL Financial was driven by the firm’s operational capabilities and resources, which both Academy and PFG believe will enhance their ability to provide personalized client services.
“We felt the stability of LPL — a Fortune 400 company with a large infrastructure, economies of scale, and robust technology — would enable us to operate independently and focus solely on taking care of our clients,” Kvech added. “Ultimately, this move was made for the benefit of our clients and is part of our longtime mission to ‘serve first, serve last, and serve always.’”
LPL’s latest addition comes on the heels of a $375 million team from Wells Fargo joining LPL Strategic Wealth Services, the firm’s supported independence model, in North Carolina.
Before that, LPL recruited another $615 million team formerly with Lincoln Financial’s wealth unit, recently acquired by Osaic, who made their move in Georgia.
The new AI feature generates instant client portfolio talking points, slashing meeting prep time for advisors.
As Citizens expands its advisory footprint, the bank is also going after wealth trapped inside business ownership
The Forbes rankings are highly sought after by some advisors and firms for marketing purposes.
Meanwhile, an advisor tuck-in from Edward Jones expands Kestra's Washington, D.C.-area presence, and Janney deepens its Connecticut footprint with an experienced Wells Fargo advisor.
KFN Succession Center pairs advisors weighing retirement with buyers, as next-gen affordability keeps eroding industry-wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
