LPL Financial Lures Another Two Former Lincoln Teams
LPL Financial has added more than 30 advisors with Academy Financial, Inc., and PFG Advisors, who collectively oversee about $4 billion in assets under management.
The firms, which were previously affiliated with Lincoln Financial’s wealth management unit, which Osaic bought in May, will merge their practices under the Academy umbrella, LPL said.
Lutherville, MD-based Academy Financial was founded in 1992 by Harry Horn, who will continue to serve as a consultant and partner emeritus. The team is now led by partners Brent J. Kvech, T. Joseph Barger, Michael T. Leonard, and Michael C. McFeeley.
Berwyn, PA-based PFG Advisors is led by Tyler McCraw and Steve Morris. The firm focuses on financial planning with specializations in business succession planning, estate planning and corporate retirement strategies.
“We’re honored to have PFG Advisors join us as we continue to grow our firm and build meaningful relationships with clients,” Kvech said. “The PFG team shares our serve-first approach, and we look forward to collaborating on behalf of clients for the sole purpose of helping them work toward their financial goals with their best interests in mind.”
Lincoln Financial has been on a recruitment spree of late. The firm recently welcomed SoundWay Financial, a CT-based team with $180 million in assets formerly with Cetera. Last week, Wealthstead Financial Advisors, a $615 million five-person advisory team based in Atlanta joined the broker-dealer’s platform, as well as Harbor Lights Financial Group, a Manasquan, NJ-based high-net-worth team that managed $535 million at Wells Fargo’s independent channel, FiNet.
LPL also welcomed 4Point Wealth Management, a $375 million Davidson, NC-based advisory team, to its independence model, LPL Strategic Wealth Services.
Last month, the firm lured Summit Planning Group, a $750 million Connecticut-based shop with seven advisors, to its platform. In May, Pilot Financial, a network of 105 advisors nationwide that manages $4.6 billion in assets also joined.