A team of six advisors with about $450 million in assets has left Prudential Securities to affiliate with LPL Financial (LPLA), the firm said Wednesday.
The group, Capstone Affluent Strategies, is transitioning to become an independent wealth-management firm in Newport Beach, Calif. It is being led by Darin Pastor, formerly of Prudential and JPMorgan Chase & Co., and plans to have additional branch offices locations in Los Angeles, San Francisco, Phoenix, Dallas, Houston, New Orleans, New York and other locations.
Capstone Affluent Strategies also plans to bring on 15 more advisors to the firm within the next two months, according to LPL.
“It is with great pleasure that we welcome Capstone Affluent Strategies to LPL Financial,” said Bill Morrissey (left), executive vice president of business development at LPL Financial, in a press release. “Darin and the members of Capstone Affluent Strategies have been widely recognized throughout the industry over the years for a commitment to client service, and an ability to develop innovative wealth management solutions.”