LPL Financial said Wednesday that BMG Advisors has joined its broker-dealer and corporate registered investment advisor platforms from Waddell & Reed. The group has about $220 million of client brokerage and advisory assets.
BMG Advisors, formerly Buford-Malone Group, has operated in the Kansas City, Missouri, area for 35 years and includes Jennifer Malone, Andrew Rogers, Adam Hawley and Stephen Minshull, all of whom are former college athletes.
“We chose LPL because of the impressive technology and tools they offer that we believe can provide additional value to clients and help our business evolve,” according to Malone, who has been in the business for 11 years. “We also found LPL’s localized support system to be a huge asset.”
With the slogan, “Plan Your Story,” BMG’s advisors focus on financial planning and helping clients pursue their financial aspirations, LPL says.
“We are pleased to welcome BMG Advisors to LPL,” explained Rich Steinmeier, LPL managing director and divisional president of business development. “We are proud BMG Advisors chose LPL to be their partner for the future and look forward to supporting them in their valuable work.”
Raymond James’ News
Meanwhile, Raymond James says it has recruited a team from Wells Fargo Advisors to its independent channel and an advisor from UBS to its employee channel.
Coming over from Wells Fargo are Benjamin Lewis Jr., who has been an advisor for 23 years after starting at A.G. Edwards, and Christopher Amys, CFP, in Asheville, North Carolina, who has nine years of industry experience. The work as Elk Mountain Wealth Partners and have managed $185 million in client assets.
“Our decision was primarily based on Raymond James’ reputation for putting clients first and allowing advisors to manage their businesses the way they know best,” according to Amys. “We believe the freedom Raymond James gives advisors and the level of support are unparalleled in our industry.”
Amys began his financial-services career at Wachovia Securities, which later became Wells Fargo Advisors, where he most recently served as a vice president, investment officer and a discretionary portfolio manager. Earlier, he was a class A PGA golf professional.