LPL is extending its footprint in the Southwest as it welcomes a San Diego, California-based advisor team.
On Wednesday, the broker-dealer colossus announced the addition of FSI Wealth Management have joined its broker-dealer, registered investment advisor, and custodial platforms.
The Old Town, San Diego-based advisor team reportedly oversaw approximately $215 million in advisory, brokerage, and retirement plan assets at their previous firm, Securities America, which is now a unit of Osaic.
FSI Wealth Management was founded by Paul Neves and Darrin Santos, who collectively bring 65 years of experience in the financial services sector. Neves brings 34 years of experience to the table, including a tenure of 25 years at Securities America.
The two established their firm in 1995, focusing on comprehensive financial planning and wealth management. At their practice, Neves and Santos pride comprehensive wealth management services, collaborating with CPAs, attorneys, insurance brokers, and other consultants to address all facets of their clients' financial needs.
“Our clients come to us for everything, and we treat them like family,” Neves said in a statement. “We are very intentional in creating meaningful relationships and providing a high level of customer service to help positively impact each client’s financial future.”
The decision to move to LPL Financial came after their previous firm’s sale and subsequent rebranding to reflect the Osaic affiliation.
“We were at an impasse with our business and thought to ourselves, ‘Do we want to wait and see what happens next or go somewhere that’s already proven?’” Neves said.
Neves and Santos cited LPL’s stability and award-winning capabilities, which they expect “will create efficiencies within our office and provide a simplified online experience for our clients.”
“We also appreciate the local home office and the opportunity to grow our firm with a San Diego-based Fortune 500 company,” Santos said.
LPL’s advisor additions in San Diego come hot on the heels of the firm welcoming an advisor duo who managed $200 million at Berthel Fisher after the Memorial Day weekend.
Last Wednesday, LPL scored a substantial win in North Carolina as it bagged a $4.6 billion team from Lincoln Financial, whose advisor business was also acquired by Osaic.
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