LPL Financial has recruited seven advisors with $1.1 billion in assets from Raymond James’ independent channel to its hybrid platform. Meanwhile, Carson Partners, part of Ron Carson-led Carson Wealth, said it has added two wealth management firms: Bender Financial Services and Morgan Wealth, which have a total of nearly $200 million in client assets.
The registered representatives joining LPL do business as PacNorth Retirement Group of Spokane Valley, Washington. The team includes veteran advisors RC Roland, Chad Roland, Blair Roland and Gary Douvia, formerly with RDH Investments; and Garry Borders, Matt Borders and Joel White, previously with Borders, White & Tait.
(RC Roland is the father of Chad and Blair Roland; Garry Borders is the father of Matt Borders.)
“With a large retirement plan business serving hundreds of individuals and dozens of companies, we were looking for a partner that could provide the tools and resources to operate more efficiently,” according to RC Roland. “We were impressed by LPL’s capabilities and technology, and how the integrated platform can streamline and improve how we can work with clients.”
RC Roland has been in the business for 45 years. He spent the past eight with Raymond James and started his advisor career at Merrill Lynch in 1974. Garry Borders has worked as an advisor for 34 years and was with Raymond James for about a year.
“The PacNorth team plays an important role to help their clients at each stage of their financial lives. We welcome them to LPL and are committed to investing in the breadth of wealth management resources that help them be successful meeting the needs of their clients,” said Rich Steinmeier, LPL Financial managing director and divisional president, Business Development, in a statement.
One of Carson Partners’ new teams is Bender Financial, founded by President Benjamin Bender in 2014 and based in Highlands Ranch, Colorado, where the group works on $140 million is assets. Morgan Wealth, led by founder and CEO Joe Morgan, is located in Central California and manages $58 million in assets.
“The decision to partner with Carson is an extension of my service to my clients,” according to Bender. “Not only has this set us up to be more sophisticated when it comes to technology, but it’s also given us access to enhanced tax and estate planning services through the Wealth Enhancement Group so that we can serve our clients in a more comprehensive manner.”
Additionally, Bender sees the move as a strategic response to a fast-changing industry. “With the increased scrutiny in our industry, we also needed a buttoned-up process for compliance and regulations,” said Bender. “Carson’s out-of-the-box solutions will enable us to shift a significant portion of our time from monitoring industry changes to doing what we do best — meeting and planning with our clients.”
As for Morgan Wealth, “Becoming a [Carson] partner firm is beneficial on multiple fronts, both for our team and our clients,” according to Joe Morgan. “We’ll be more efficient as a team with the new technology, we’ll be more focused on the things our clients need most, and we’ll be able to scale faster and smarter, keeping our operational costs down.”
He added: “ This will translate into more competitive pricing for our clients and more profitability for our firm, all while creating a far more compelling value proposition that is clean and straightforward.”