What You Need to Know
- CFPs Steven Bailin, Jodie Cohen and Jeffrey Prince worked together for about 10 years before launching PBC Private Wealth.
- LPL started the wirehouse-breakaway affiliation program about a year ago.
- As of March 31, LPL had 17,672 affiliated advisors and some $958 billion in client assets.
LPL Financial says a $700 million team from Morgan Stanley has joined its breakaway channel.
Certified financial planners Steven Bailin, Jodie Cohen and Jeffrey Prince — who have worked together for about 10 years — launched PBC Private Wealth, through their affiliation with LPL’s Strategic Wealth Services. The group is based in Los Angeles and has an office in Las Vegas.
LPL launched the wirehouse-breakaway affiliation program about a year ago. Last month, it added a $1.3 billion team from Wells Fargo Advisors, and a $650 million group from Merrill Lynch joined in April.