$470M retirement-focused RIA joins LPL

The RIA was previously affiliated with Kestra Investment Services.
JUN 13, 2017

A hybrid registered investment advisory shop overseeing roughly $470 million in qualified retirement plan assets has affiliated with LPL Financial as its broker-dealer. The firm, Black Box Pension Advocates, which is located in Solon, OH, was previously affiliated with the broker-dealer Kestra Investment Services. Black Box Pension Advocates also joined Global Retirement Partners, a registered investment adviser and LPL's largest retirement-plan-focused office of supervisory jurisdiction. Roughly 170 advisers with $46 billion in assets are affiliated with GRP. Black Box focuses on full-service retirement plan consulting, including plan design, employee engagement and financial wellness, said Thomas Herbuck, owner and retirement plan consultant. Around 95% of its assets are held in advisory accounts. Aside from Mr. Herbuck, two other individuals (a client service manager and project manager) are part of the practice. Mr. Herbuck said he felt compelled to make the move in part to align his company with "where the most forward-thinking retirement plan consultants in the industry are."

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.