LPL Financial has strengthened its wealth management ranks in Massachusetts with the addition of financial advisors Kelly Lawrence and Vin Sbano from B. Riley Wealth Management.
Boston-based Lawrence and Sbano have joined Linsco by LPL Financial to launch Gibson Financial Group of LPL Financial. In a statement, LPL said that the team reported serving approximately $180 million in advisory, brokerage and retirement plan assets.
The team said it is seeking greater independence, and turned to LPL for its scale, technology and resources. Last year LPL said that it invested $470 million into technology development and innovation in 2024. LPL has also entered into a strategic relationship with Wealth.com to provide digital estate planning for its advisors.
“I needed a firm with stability, strong reputation and robust resources,” said Lawrence, in a statement. “After navigating a period of major personal and professional transition, it became even more important to operate within a platform that has the infrastructure to support long-term growth. LPL’s training program will allow me to bring on a junior partner in the future, and the self-clearing structure was essential.”
Meanwhile, RIA Beacon Pointe Advisors has acquired MGB Wealth Management in Addison, Texas, and Pacifica Wealth Advisors in Franklin, Tennessee, and Irvine, California, bringing in assets of $645 million. MGB Wealth Management joins the existing Beacon Pointe Dallas team, while Pacifica Wealth Advisors partners with Beacon Pointe’s existing team in Newport Beach, California.
The MGB Wealth Management acquisition also marks Beacon Pointe’s tenth acquisition in Dallas, and comes hot on the heels of last month’s acquisition of InvestmentHunter Wealth Services in Fort Worth.
“For more than 35 years, our focus has been helping clients grow and preserve their wealth while building relationships grounded in trust,” said Michael G. Bailey, founder of MGB Wealth Management, in a statement. “Beacon Pointe shares that same client-first philosophy, and we’re excited to join a firm that enhances the resources and support available to our clients.”
“Michael Bailey and his team joining Beacon Pointe enhances our momentum in the fast-growing Dallas–Fort Worth market, an important hub for our continued expansion,” added Beacon Pointe President Matt Cooper.
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