LPL Financial, the largest broker-dealer for independent contractor reps, continues to hire and recruit financial advisors to its recently launched breakaway broker-focused channel and said Thursday that James Sheehan and Shawn Tighe had joined the firm from Raymond James & Associates Inc.
Sheehan is based in Charleston, South Carolina, while Tighe works in northern New Jersey. They operate as Sheehan Wealth Management and oversee $450 million in client assets, according to a statement from LPL.
LPL's breakaway advisor unit, called LPL Strategic Wealth Services, has hired 82 advisors from 30 teams, many from wirehouses, since it launched in 2020, according to the company. Strategic Wealth Services financial advisors have $14.3 billion in client assets, according to the company.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
A new PitchBook analysis unpacks sticking points relating to liquidity, costs, and litigation risk for would-be investors and plan sponsors.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
The collaboration will give RIAs yet another access point into the alternatives space through a new unified managed account capability.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
