LPL snags $1.1 billion team from Raymond James

LPL snags $1.1 billion team from Raymond James
PacNorth Retirement Group will use both LPL's broker-dealer and corporate RIA.
JUL 02, 2019

A team of retirement advisers in the Northwest with $1.1 billion of brokerage, advisory, and retirement plan assets has left Raymond James' independent broker-dealer network to work with LPL Financial. PacNorth Retirement Group of Spokane, Wash., moved on Friday from Raymond James to LPL and will use both its broker-dealer and corporate registered investment adviser, according to a statement on Tuesday by LPL. PacNorth Retirement Group is the result of combining two financial practices started in the 1970s: R.C. Roland, Chad Roland, Blair Roland and Gary Douvia of RDH Investments, and Garry Borders, Matt Borders and Joel White of Borders, White, & Tait. "We were impressed by LPL's capabilities and technology, and how the integrated platform can streamline and improve how we can work with clients," Mr. Roland said in a statement. A spokesperson for Raymond James Financial Services declined to comment. LPL has been aggressively recruiting brokers and financial advisers, adding $7.1 billion in recruited assets during the first quarter of the year. The firm has more than 16,000 brokers and advisers under its roof and reported $684 billion in brokerage and advisory assets at the end of March.

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline