LPL has expanded its presence in the eastern US further with a fresh addition in Virginia.
The company announced Thursday that Highland Partners Financial Services, led by managing partner George Mark Hamby, have joined its broker-dealer, RIA, and custodial platforms.
Highland Partners, previously affiliated with Momentum Independent Network, a subsidiary of Hilltop Holdings, reported serving more than $400 million in advisory, brokerage, and retirement plan assets.
Based in Glen Allen, Virginia, the firm was established in 2019 by Hamby, who has over three decades of experience in the financial services industry.
It supports advisors J. Michael Duke, Thomas R. Kirby, Simon M. Joseph, and Elaine B. Miller in Virginia, Bernard R. Theis in Pennsylvania, and Lawrence Karpf, Jean E. Albanese, and Patricia E. Donelan in New Jersey. Each advisor manages their individual practices, providing comprehensive investment strategies and financial planning for clients.
“At Highland Partners, we understand why so many practice owners are seeking independence but are hesitant to follow their heart,” Hamby said in a statement. “That's why we have created a custom partnership that delivers the control of independence with the comfort of a turnkey employee atmosphere.”
After a thorough evaluation, Hamby said LPL emerged as his firm’s partner of choice due to its “market reach, award-winning technology and commitment to the individual investor experience.”
“We wanted simplicity and ease of doing business, and LPL does a good job of lifting our brand and providing innovative resources that will cut down on some of the busy work,” he said.
LPL’s move in Virginia extends a so-far frenzied last week of May for the firm. On Wednesday, it onboarded a $215 million team from Securities America, a unit of Osaic, in California.
Prior to that on Tuesday, it welcomed a $200 million advisor pair from Berthel Fisher & Co.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
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
