Indie hybrid managing $240 million switches to LPL from FSC

Four advisers who managed $240 million while affiliated with the Advisor Group's FSC Securities have switched their broker-dealer and registered investment adviser relationships to LPL Financial. [More: See more adviser moves in InvestmentNews' Advisers on the Move database.] Cris Arnold, David McIllwain, Charlotte Martin and Brenda Speer, who are based in Pulaski, Tenn., near Nashville, will use Independent Advisor Alliance as their office of supervisory jurisdiction. [Recommended video: Joel Bruckenstein: Expects new financial planning firms to emerge after so much M&A] Mr. Arnold and Mr. McIllwain, friends since the early 1980s, joined their wealth management practices in 2003. That year, Ms. Martin and Ms. Speer, also lifetime friends, formed a practice to serve retirees. The two partnerships have worked together closely over the years and plan to formally merge their practices in early 2020. Investing in profitability, performance and people: Register for our Top Advisory Firm Summit.