LPL Financial says an advisor group formerly with National Planning Corp. has moved to its broker-dealer and corporate RIA platforms with $1.1 billion of assets and close to 20 financial advisors.
LPL acquired the assets of NPC and several other broker-dealers from National Planning Holdings in August.
“We are excited to welcome Doug and the entire Discovery Financial team to LPL,” said Bill Morrissey, LPL’s head of business development, in a statement. “They are a very successful group that embraces a financial planning model and values independent advice … We look forward to supporting the Discovery Financial team for many years to come.”
Based in Red Wing, Minnesota, Discovery Financial was co-founded by Doug Ritter about 25 years ago and now has eight locations.