LPL, Stratos Wealth Partners Welcome $311M Team

Barton Spector Wealth Strategies focuses on retirement income planning and cites the DOL rule for the move

Barton Spector Wealth Strategies has joined LPL Financial’s broker-dealer platform and aligned with Stratos Wealth Partners, an independent advisory firm on LPL’s hybrid RIA platform, according to an announcement.

The Scottsdale, Arizona-based Barton Spector Wealth Strategies includes two advisors, Sharon Barton and Jay Spector. The firm reported that, based on prior business, its advisors served approximately $311 million of client brokerage and advisory assets, as of July 28. The pair were previously affiliated with Merrill Lynch.

Barton Spector Wealth Strategies focuses on retirement income planning. According to Barton, the Department of Labor’s fiduciary rule led the firm to join LPL.

“Continued business and culture changes were limiting our ability to support our clients,” Barton, a 31-year veteran of Merrill, said in a statement. “The implementation of the Department of Labor rule ultimately became the impetus for us to make the move to the independent model so we could have what we needed to operate our business successfully and in the best interest of our clients. LPL’s scope and breadth of support, platforms and product access, technology and practice management resources made it the best choice for us to be able to continue to serve our clients with the service level they have come to expect.”

Steve Pirigyi, LPL executive vice president of business development, has seen the effect the changing regulatory environment is having on firms like Barton Spector Wealth Strategies.

“We believe the impact that the changing regulatory environment is having on advisors and the way they need to evolve their businesses is driving more advisors to the independent model,” Pirigyi said in a statement. “For Sharon and Jay, who are committed to investor choice and their firm’s continued growth, LPL offers investment solutions designed to maintain choice for their clients. We are proud that they recognized LPL as a leading player in the independent space.”

The team at Barton Spector Wealth Strategies said they aim to continue to grow their business with the addition of new advisors to offer more services to clients, including innovative investment strategies for multigenerational clients.

According to Spector, “we wanted to ensure we had the best partner for our business needs as well as one that would make the transition to independence as seamless as possible. LPL and Stratos offered combined support to minimize disruption to our clients and provide the structure for our ongoing and future success.”

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