LPL Financial has recruited Conte Wealth Advisors, LLC, a Camp Hill, Pennsylvania-based firm managing approximately $1.6 billion in advisory, brokerage, and retirement plan assets, marking one of the larger team moves to hit the independent broker-dealer space this week.
The 24-advisor practice, which serves business owners and high-net-worth individuals across multiple states, made the transition from Cambridge Investment Research.
Conte Wealth Advisors traces its roots to the 1950s, when Tony Conte's grandfather, Sam Conte, first began serving clients. Today, the firm operates as a multi-generational enterprise with Tony Conte, CFP, CEPA, who took the helm in 2012, joined by his father, Frank Conte, CLU, ChFC, and brother-in-law Joe Henriques, CFP, AIF, who serves as managing director and principal wealth advisor.
That family foundation informs the firm's planning-first philosophy, an approach Tony Conte says guided his decision to affiliate with LPL Financial, the nation's largest independent broker-dealer by headcount.
"From the beginning, we've felt a genuine commitment from LPL's leadership and teams to helping us succeed," Tony Conte said in a statement.
The firm cited LPL's technology platform and advisor support infrastructure as central factors in its decision. For a practice of Conte Wealth's scale and complexity, the ability to enhance client service while preserving room to grow was a key consideration.
For LPL, the addition continues a recruitment run that has seen the San Diego-based firm attract billions in assets from advisors departing wirehouses and competing independent platforms. LPL reported more than $1.4 trillion in total advisory and brokerage assets as of its most recent public disclosures, according to the company.
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