Independent Advisor Alliance has a fresh injection of capital as LPL Financial has taken a minority stake in the hybrid firm.
IAA supports financial advisors in their independent practice and the new investment will help to expand the tools and services that make up its ecosystem including its partnership program which invests capital in partner firms.
The decision to work with LPL was based on shared values of fostering innovation and providing better services for financial advisors.
"Ultimately, it came down to what was in the best interest of our advisors. It's a win-win for advisors when their RIA and broker dealer are aligned," said Robert Russo, CEO and Founder of IAA. "Our partner firms know we're in it for the long haul. They have clarity and security in their future, combined with the best support and services in the industry."
IAA will retain majority ownership and full control of the business and Russo says it is a major milestone on the firm’s growth journey.
The North Carolina-based firm recently bolstered its senior leadership team to focus on growth and marketing with new hires including former LPL Financial executive David Buzo who is IAA’s chief marketing officer.
LPL Financial’s Jeremy Holly, EVP of business strategy and growth agrees that the two firms have shared aims.
"Since its inception, IAA has been dedicated to providing robust support and innovative programs that empower financial advisors to be successful independent business owners,” he said. “Like LPL, IAA's focus is on advisors and helping them to grow their businesses. We are proud to partner with IAA as they build upon their success.”
Report on Climate Action 100+ signals risk for passive managers' 13G status heading into the 2027 proxy season.
Advisors say record balances aren't a retirement income plan and urge clients to benchmark their lives, not an index
Wealth enterprises are leaving revenue on the table - a new PureFacts and Ascentix partnership aims to help firms take it back.
What if one investment decision could create tax-saving opportunities across your entire portfolio? Chris Vizzi shares how the Stacking Strategy helps investors align tax planning, portfolio construction, and wealth preservation to maximize long-term outcomes while keeping more of what they earn.
Buyers spending on AI may treat less efficient sellers as overstaffed and price the cost of rightsizing into lower offers
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
