Recruiting continues to be on a roll in '16.

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 News

Cetera Financial Group says Bank of Hope is now affiliated with its broker-dealer Cetera Financial Institutions, which serves banks and credit unions.

Headquartered in Los Angeles, Bank of Hope is one of the largest Korean-American banks in the United States. It has over $13 billion in assets, and its wealth-management program has about $55 million of investment assets under management, including roughly $30 million of client advisory assets.

“We are especially eager to introduce its clients to our outstanding platform of wealth management products and solutions, and to help the bank meaningfully increase its in-house corps of financial advisors and bring aboard talented individuals who understand the wealth management needs of the Korean-American community,” said Cetera Financial Institutions CEO Catherine Bonneau, in a statement.

Bank of Hope plans to grow from two advisors to up to six FAs in the near term and to as many as 20 advisors over the next five years, according to a press release.

“Bank of Hope is focused on significantly building up its wealth management program, to become a truly open-architecture provider of comprehensive investment services to our community,” said Clem J. Shin, head of Hope Wealth Management, in a statement.

“We are also enthusiastic about their partnership in helping us to identify appropriate new advisor candidates for our regions of greatest concentration, including the West Coast, Washington, New York, New Jersey and the Chicago area,” Shin explained.

Bank of Hope was formed in July 2016 through the merger of BBCN and Wilshire Bank. It has 80 branches.