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LPL Nabs 30-Member Team From Securities America

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LPL said Wednesday that Elite Financial Network, a group of 30 independent advisors with about $1 billion in assets, has joined its broker-dealer, corporate RIA and custodial platforms from Advisor Group’s BD Securities America. 

Founded by President and CEO Dan Cairo in 1992 in Huntington Beach, California, the Elite Financial team has its “eyes set on significant growth and expansion over the next few years, and we are confident that this new partnership [with LPL] will give us a competitive advantage to help attract like-minded advisors.”

Other firm leaders include Craig Wong, managing partner, and Cairo’s wife, Cindy Cairo, co-owner and chief financial officer.

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“We warmly welcome Dan and the entire Elite team to the LPL community,” Ken Hullings, LPL senior vice president, Business Development, said in a statement. “We are pleased to be their partner of choice as they continue to evolve their practice and deliver more value to clients.” 

As of Sept. 30, 2021, LPL’s operations included 19,627 affiliated financial advisors and other professionals and $1.1 trillion in advisory and brokerage assets.