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LPL Adds $1.6B Voya Team

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What You Need to Know

  • Brian M. Woods Financial Services has 30 advisors.
  • This is the second recruitment of a billion-dollar team the BD has announced this week.

LPL Financial announced the recruitment Thursday of a $1.6 billion group with 30 advisors from Voya Financial Advisors.

On Thursday, LPL said Brian M. Woods Financial Services joined its broker-dealer, corporate RIA and custodial platforms from Voya. Based in Danvers, Massachusetts, the firm was founded in 1991 by Woods, whose father worked in the industry. 

The business serves as the office of supervisory jurisdiction (OSJ) for 30 financial advisors, including North Pointe Wealth Management. It has been moving its assets and operations to LPL since early May. 

“It was my due diligence and responsibility to find the best place for everybody to land, and LPL stood out as a partner that would put the interests of our clients and advisors first. It’s a place where we can dig in and do business with ease,” said Woods, in a statement.

“With extensive offerings on the advisory platform, access to multiple financial planning tools and the protection for my advisors through succession planning, we believe there are significant opportunities to recruit more advisors to our team,” he added. 

Earlier in the week, advisor Larry Boggs launched Boggs & Co. Wealth Management by affiliating with LPL’s Strategic Wealth Services, which serves breakaway advisors with extra types of support. The $1.3 billion group formerly was part of Wells Fargo Advisors.