LPL Financial is bolstering its presence in the Southeast as a group of Raymond James advisors switch teams in the Sunshine State.
The firm announced Wednesday that a team of eight advisors from St. Petersburg, Florida, has joined its broker-dealer, registered investment advisor, and custodial platforms.
The group, previously affiliated with Raymond James, reported managing approximately $450 million in advisory and brokerage assets.
The advisors – Michael Collins, Jim Spicer, Ryan Roy, Gary Hummel, Robert Torris, David Zaccagnino, Steven Laesser, and Mark Wolf – operate independently while sharing office space and client service strategies. Logan Wolf, a registered assistant and the son of Mark Wolf, also joined the transition.
LPL's newest additions in the Southwest provide a range of financial services for their clients including portfolio management, retirement income strategies, tax planning, education funding, and estate planning.
In a statement, they cited LPL Financial’s flexible platform and customizable solutions as a primary factor in their decision.
“We were seeking a partner that could help us elevate our service offering so we can continue to give clients what they need and deserve,” said Collins, a veteran with a 25-year Brokercheck record, who previously served as branch manager. “With LPL, we have access to a wide range of innovative capabilities and strategic resources, along with an expanded suite of products that will greatly enhance client experiences.”
Collins emphasized the importance of independence in their practice, noting the benefits of working with LPL.
“We are now empowered to decide what tools we want to use without corporate influence or mandates,” he said, referring to their move as "a positive change that will help position us for long-term sustainability and growth.”
LPL boasts a mammoth network of over 23,000 financial advisors nationwide, supporting approximately 1,000 institutions and 580 RIA firms across the US.
It's made a number of notable additions during the first half of October, including a $685 million advisor trio from Merrill and a $2.1 billion powerhouse team that also came from Raymond James.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
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.
