TBT Financial Services, a six-adviser team managing $625 million, switched its affiliation and corporate registered investment adviser custodial platform to LPL Financial from Raymond James.
The TBT team, which is based in Longview and Tyler, Texas, includes financial advisers Jerry Martin, Jon Cromer, Mitzi Bjork, Carl Newman Jr., Curtis Hinshaw and Clint Quinn, as well as four operations support staff members.
TBT was already working with Financial Advociates, an LPL firm that provides services to independent advisers.
The team had affiliated with Raymond James in 2010 after many years as an independent securities firm.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
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From direct lending to asset-based finance to commercial real estate debt.
