LPL Lures Ex-Cetera Team with $180M in Assets 

LPL Financial announced that financial advisors with SoundWay Financial have joined the firm’s broker-dealer, RIA and custodial platforms in affiliation with existing firm Balmville Wealth Group (BWG). They serve approximately $180 million in advisory, brokerage and retirement plan assets and join LPL from Cetera. 

The seven-person North Haven, CT-based SoundWay Financial is led by senior advisors Richard Belanger, Hons Yu, and Michael Belanger. They are supported by operations manager and advisor Nicara Enright-Alves and team members Luke DeRose, Thomas Wissenbach and Anthony Persampieri. 

SoundWay turned to LPL and BWG to elevate their practice and work more cohesively as a team. The team will also benefit from localized support, connections and an additional layer of resources from BWG. 

“At SoundWay Financial, we offer holistic planning for a wide range of investment needs, whether that means helping a client with a retirement strategy or providing financial advice for unexpected life events,” Richard Belanger said. “We’ve found that clients benefit from a collaborative approach, and we believe LPL puts us in a better position to work in a team environment where we have more control of our practice.” 

Late last month, LPL announced that Springfield, VA-based Englert Financial joined its platform from Avantax, which is now owned by Cetera, reportedly serving approximately $170 million in advisory, brokerage and retirement plan assets.  

LPL serves over 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide.