LPL reels in $275 million team from Securities America

LPL Financial said on Tuesday that it recently snagged a team of eight advisers based in Colorado with close to $275 million in brokerage and advisory assets from rival Securities America Inc., one of the broker-dealers in the Ladenburg Thalmann Financial Services Inc. network. Dan Johnson, the founder of JBA Wealth Management, moved his registration to LPL from Securities America on Aug. 24, according to his BrokerCheck report. JBA plans to add more advisers as well as increase support to clients interested in socially responsible investing, LPL said in a press release. It operates out of two offices in Fort Collins and Scotts Bluff. Three of its advisers are women. "We are committed to supporting our advisers by making investments in the technology, capabilities and resources that help them grow their businesses in the ways that matter most to them," said Rich Steinmeier, LPL managing director and divisional president, business development, in the press release. A spokesman for Securities America, Joe Kuo, declined to comment.