Niklas Financial, a hybrid advisory firm with $400 million in assets, is joining LPL Financial’s broker-dealer, registered investment adviser and custodial platforms from Securities America, which is a unit of Advisor Group.
Jefferson City, Mo.-based Niklas will align with JFC Financial Services, which moved to LPL from Securities America last month.
Kenny Niklas, president of Niklas Financial, founded the firm in 1979 with his father and brother, who have retired. The firm includes his son, Brandon Niklas, as well as advisers Jerry Christian and Aaron Smith, office manager John Anderson, administrative staff and eight remote financial advisers.
[More: Virtual Attraction: Can broker-dealers still recruit reps and advisers, even during a pandemic?]
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as 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
