LPL Financial (LPLA) says that Running Wealth Management Group has is now affiliated with both its broker-dealer and hybrid RIA platforms.
Running Wealth Management, which is based in Minnetonka, Minnesota, has some $245 million of client assets, as well as six advisors. It worked with LPL from 2001 to 2012, before moving to Cetera Advisors for the past four years.
“We welcome the return of Running Wealth Management to LPL and the opportunity to support the team’s continued growth. They have an acquisition strategy to create scale in their business as a means to be able to thrive in the current environment,” said Craig Kamis, LPL senior vice president of large enterprises and institutional recruiting, in a statement.
“We found LPL to offer the best range of capabilities to support our firm and the needs of our clients in today’s changing regulatory and technological environment,” said Nate Running, CFP, in a statement. “And as we strive to continue to grow our business, we recognized the value of being connected with LPL’s vast network of advisors as we consider compatible practices for acquisition opportunities.”
Cetera Financial Group says Bank of Hope is now affiliated with its broker-dealer Cetera Financial Institutions, which serves banks and credit unions.