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November 23, 2020 at 01:48 PM
LPL Financial President & CEO Dan Arnold.
LPL Financial says Verus Capital Partners — which has some 30 financial advisors working with about $1 billion in assets — has joined its hybrid-platform from Securities America, part of the Advisor Group network of broker-dealers.
The news comes a week after LPL announced that a team with about $2 billion in client assets left Morgan Stanley to join its hybrid platform and a week after Advisor Group-affiliated BD SagePoint Financial recruited Veater Financial Group from LPL; Veater has four advisors and $503 million in client assets.
Two large teams supported by Verus Capital Partners include Phillips Financial Management and Oxenham Financial, both serving more than $100 million each in brokerage and advisory assets.
Verus Capital Partners is based in Scottsdale, Ariz., with an office in San Diego. Founder Stephen Bull, who started his career with AXA Advisors, formed Bull Capital Management in 2003 and then expanded it into Verus. Bull’s partner is Zach Mason, who’s been in the industry since 2009.
