LPL picks up $640 million Stofan Agazzi Investments

LPL picks up $640 million Stofan Agazzi Investments
The Illinois-based firm is leaving Wintrust Investments.
DEC 20, 2018

Stofan Agazzi Investments, a firm serving $640 million of client brokerage and advisory assets, is joining LPL Financial's broker-dealer and registered investment adviser platforms. President Mark Stofan launched the firm as a broker-dealer in 1987. In 2013, he joined Wintrust Investments, the Chicago-based wealth management division of Wintrust Financial, according to BrokerCheck.​ Mr. Stofan and Wintrust did not immediately respond to requests for comment. Rich Steinmeier, LPL Financial managing director and president of the business development division, said in a statement that Stofan Agazzi "recognized that we have the stability to serve as a long-term partner to their firm and their clients." The addition marks the second largest pickup by LPL this week. LPL announced Tuesday it lured Wellesley Financial Partners, a firm with $400 million in assets, away from Cadaret Grant. (More: LPL loses $325M firm to Commonwealth, picks up $400M firm from Cadaret Grant) However, LPL also lost Daley Financial Partners, a $325 million firm, to Commonwealth Financial Network.

Latest News

A year after sale, Commonwealth Financial and LPL start cutting staff
A year after sale, Commonwealth Financial and LPL start cutting staff

Commonwealth Financial joins a number of firm that have recently cut jobs.

Pension funds sue Primoris, allege it hid solar cost overruns from investors
Pension funds sue Primoris, allege it hid solar cost overruns from investors

A slow drip of disclosures, an executive exit, and a stock that fell hard before the suit landed

Unpaid caregivers face steeper financial hurdles on path to retirement, EBRI finds
Unpaid caregivers face steeper financial hurdles on path to retirement, EBRI finds

New research finds unpaid caregivers are more likely to struggle with debt, lower savings and diminished retirement confidence than non-caregivers.

Volatility: Best and worst of times
Volatility: Best and worst of times

Large broker-dealers and registered investment advisors have, since 2020, been developing or sticking to strategies and tactics to combat the pain of intense, short-term market volatility

Want to win in the advisor wars? Then make sure you’re offering plenty of choices
Want to win in the advisor wars? Then make sure you’re offering plenty of choices

Centaurus Financial touts its independence as a key selling point at a time when many firms are being swallowed up.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income