Detroit-area team managing $500 million shifts to LPL

Herbert Financial Group, a hybrid managing $500 million in Auburn Hills, Mich., has changed its broker-dealer and corporate registered investment adviser affiliations to LPL Financial, from Centaurus Financial. [More: See more adviser moves in InvestmentNews' Advisers on the Move database.] The advisory firm, led by Timothy Herbert, daughter Kara Herbert and Scott Torosian, specializes in serving executives and retirees associated with the automobile industry. Mr. Herbert entered the finance industry in 1985 while still working as a human resources manager for General Motors. He said his firm has extensive knowledge of GM, Delphi, FCA and Ford benefits, pension plans, stock options and retirement packages. [Recommended video:​ Riskalyze spreading its risk number thanks to this technology]