LPL Monetary has recruited Strategic Companions, a Parsons, Kan.-based apply with 18 advisors and roughly $830 million in advisory, brokerage and retirement plan belongings. The apply additionally has $600 million in fastened life insurance coverage and annuity belongings. The workforce joins from Royal Alliance, one among Advisor Group’s dealer/sellers.
The Strategic Companions workforce has aligned with Nationwide Monetary Alliance, a San Antonio, Texas-based workplace of supervisory jurisdiction of LPL. The agency was based by proprietor and President Chris Lubbers, who was born and raised in Parsons, in 1994, whereas he was nonetheless attending school.
“Our advisors every have a singular specialty and area of interest, all centered on complete monetary planning, and our objective is to attach them with specialists to assist elevate their providers,” Lubbers stated in a press release. “That features our superior planning division, a 401(okay) workforce and our personal insurance coverage sources, in addition to these from our new companions at Nationwide Monetary Alliance and LPL.”
Lubbers stated he and his agency had been interested in LPL and NFA for his or her expertise, operational efficiencies and development alternatives.
“I’m all about effectivity and that’s the place LPL shines,” he stated. “The agency has invested closely in its expertise platform, creating environment friendly processes and enhanced options that can assist our advisors present higher providers. Shoppers can have simpler entry to reporting and account data, multi function place to offer them a deeper understanding of their monetary image.”
He additionally stated the transfer will assist his agency recruit extra advisors.
LPL lately introduced that an Orland, Park, Ailing.–primarily based advisory workforce with about $285 million in shopper belongings joined Monetary Sources Group Funding Companies, a department workplace of LPL in Fort Mill, S.C., that works with about 800 advisors and 85 banks and credit score unions throughout the nation. The workforce, which has rebranded as Harbor Lighthouse Wealth Administration, represented the primary giant win for Monetary Sources Group since LPL introduced plans to purchase the department workplace in November. That deal will mark the primary time LPL has bought one among its personal branches.