Atlanta-based FSC Securities has recruited a team from LPL Financial (LPLA) with more than $250 million in assets, the Advisor Group independent broker-dealer said Tuesday. The advisors moving over are Eric Burton and Ron Whittingham, who do business as Megent Financial and are based in the great Chicago area.
“We are very pleased that Eric and Ron are coming over,” said FSC CEO and President Jerry Murphy (left), in an interview with AdvisorOne. “This decision on the part of an LPL team shows that FSC is getting the recognition it deserves in the industry, after making substantial investments in our technology, open architecture and presence in the independent space over the past few years.”
Since 2000, Burton and Whittingham have been affiliated with LPL, “which has made massive investment in its technology, as well,” said Burton, in an interview.
Though it had been getting calls from a number of broker-dealers and other firms for years, the team decided it was time to look around after Morgan Stanley (MS) gave it a call this spring.