$866M Wealth Team Joins LPL-Affiliated Firm

Northstar Wealth Partners recruits a successful team of fee-based reps, nearly doubling its AUM

Northstar Wealth Partners (NSWP), an affiliate of LPL Financial (LPLA), said it recently added a team of fee-based advisors who manage more than $866 million in assets.

The addition of Tyler Potts and J. Addison McAraw, announced on the partnership’s website last week, brings Northstar’s level of assets under management to nearly $2 billion. In addition, Northstar says it will open a new office in the Old Saybrook area of Connecticut, where the newly recruited team lives and works.

“The addition of this team to the Northstar family further demonstrates the firm’s commitment to being the independent financial services firm of choice for elite advisors who call Connecticut home,” the partnership said in an online announcement.

“Northstar is honored to welcome Tyler and J as Partners to our firm,” said Robert Laraia and Brandon Marinelli, founders of West Hartford, Conn.-based Northstar, in a statement. “We share their commitment to longevity, sustainability and scale for our clients and our business as a whole.”

Northstar currently includes 22 partners and eight staff members who serve small-business owners, senior executives, experienced professionals, retirees and families with financial planning and related advice.

(LPL Financial, which said last month that its RIA platform now has $50 billion in assets under custody, plans to release its second-quarter earnings results on July 31.)
Check out LPL’s New Supervisory Rules Will Cost Reps on ThinkAdvisor.
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