LPL Financial says it recruited three financial advisors from rival firms with a total of $100 million in assets, as well as one registered representative with $180 million from Northwestern Mutual Investment Services.
Advisors Shawn Walton, Debbie Hawksworth and Richard Coloni joined the independent broker-dealer from Cambridge Investment Research, Edward Jones and Cetera Advisors, respectively, and formed a new office of Synergy Wealth Alliance, an existing LPL firm, in Orange City, Florida.
According to the IBD, the three advisors are longtime friends who “met at their country club in DeBary, Florida, just north of Orlando.” Walton and Coloni discussed combining their practices and developing a succession plan, and then Hawksworth told them she was looking to go independent.
“It turned into the perfect partnership, with all three of us bringing something to the table to complement each other going forward as we build out the group,” said Walton, in a statement.
“We want to grow organically but also through business acquisitions, and we know Synergy and LPL have resources to help guide us through that process,” Walton added.
Also moving to LPL is Lyle Weintraub, CFP, who has become part of Bleakley Financial Group. The Bleakley team is aligned to LPL via Private Advisor Group, an office of supervisory jurisdiction working with the IBD’s advisors.
Weintraub, a 24-year industry veteran, is now part of Bleakley’s base in Fairfield, New Jersey. He made the move with three staff members.
“I felt the need to align with a group where my clients could get their financial advice and execution separately from where products are manufactured and sold,” he explained in a statement.
“After considering several compelling options, it became clear that the vision of the team at Bleakley, along with the advisor support model they have built, lined up very well with how we want to engage with our clients and run our practice,” he added.
Meanwhile, Steward Partners Global Advisory, an independent partnership associated with Raymond James, says it recruited Troy Erickson to serve as its divisional president for New England.
Erickson, who spent the past three years as head of Erickson Metals Corporation, worked earlier as an executive director for UBS (2011-2018) and as a senior vice president and branch manager for Morgan Stanley Smith Barney (2003-2011).
“Troy has an impeccable reputation as a leader, coach and recruiter, we are excited to have found someone like him who fits so well into our culture” said Doug Kentfield, head of wealth management at Steward Partners, in a statement.
“Steward Partners has experienced rapid growth over the last few years … [and] continues to attract some of the best advisors in the business … ,” according to Erickson.
Steward now has about 120 advisors and some $13 billion in client assets.