LPL Acquires $175M Coastal Wealth Management from Osaic Wealth 

LPL Financial has added a Mississippi-based financial planning firm, which oversees $175 million in advisory, brokerage, and retirement plan assets to its broker-dealer, registered investment advisor, and custodial platforms from Osaic Wealth. 

The team, Ocean Springs, MS-based Coastal Wealth Management Group, has joined LPL through its Fort Mill-based affiliate, Financial Resources Group Investment Services firm.  

Coastal Wealth Management Group consists of Lloyd Baxter, George Cumbest, Darryl Meadows, and Timothy Taranto. The financial advisors work with business owners and plan to break into assisting college athletics and clients in the music industry. Coastal Wealth Management Group also offers retirement planning, investment management, tax, and estate planning. 

Coastal Wealth Management Group joined LPL because of its “robust” technology, and the firm was looking to “enhance” its offerings for its client base.  

“We appreciate that the technology is up to date, they have the resources to support us and LPL’s strong footprint for acquisitions stood out to us as we look to grow,” Cumbest said. “We believe LPL will offer us more stability moving forward, and we feel positive about our future with LPL.” 

Recently, LPL Financial added Menomonie, WI-based Waznik Heike Group, an 11-person team, which manages $750 million in client assets from Osaic Wealth.

Pictured: Coastal Wealth Management Group