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?]
Carson has fully acquired another firm in Florida, while Simon Quick Advisors finds its third perfect-fit partner in a Las Vegas-based boutique.
FINRA has been focused on firms and their use of social media for several years.
The model has surged in popularity thanks to its fiduciary appeal, but the show is far from over for no-fee and commission-based arrangements.
Asset managers filing to launch dual share-class mutual funds, creating an ETF sleeve for existing strategies, could end up eroding key benefits of the wrapper.
The two wealth tech firms are continuing to expand their reach among firms as they support advisor productivity and client data protection.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
