Two California-based monetary advisors are becoming a member of LPL Monetary’s dealer/supplier and RIA platforms this month, including $155 million in new shopper property to the agency.
The brand new advisors, Dave Olivieri and Wes Rowlands, say they’re leaving Voya Monetary in favor of LPL as a result of they wanted a bigger dealer/supplier to assist the expansion of their Laguna Hills, Calif.-based agency, Skilled Monetary Companies (PFS).
LPL has had some massive recruiting wins up to now this yr; most lately the agency recruited Firenze Wealth Administration, a $390 million staff that joined from Foresters Monetary, who’s brokerage and advisory enterprise was bought by Cetera Monetary. LPL additionally lately added Seacoast Monetary Community, a staff with $120 million in shopper property, from O.N. Fairness Gross sales Firm.
Final yr, LPL recruited $27.three billion in advisor property.
LPL, the biggest unbiased broker-dealer within the U.S., lately introduced new efforts to overtake its recruiting and new rent expertise. The agency is utilizing knowledge from the 16,000 advisors who’ve transitioned to LPL through the years to optimize its transition packages. They’re additionally within the strategy of constructing a brand new digital portal to make it simpler for potential recruits to evaluate whether or not they need to be part of the agency.